29 unchanged sentences
Issuance of Registered Equity Securities
−Removed: During the year ended December 31, 2020, the Company did not issue any shares of common stock through its equity distribution program.
−Removed: As of December 31, 2020, there were no outstanding forward sale agreements, and $826.6 million of shares remains available to be sold under this program.
+Added: In September 2021, the Company entered into the 2021 ATM Program, a new equity distribution agreement pursuant to which the Company may offer and sell shares of its common stock having an aggregate gross sales price of up to $900.0 million.
+Added: In connection with the 2021 ATM Program, the Company may also enter into related forward sale agreements, and may sell shares of its common stock pursuant to these agreements.
+Added: The use of a forward sale agreement would allow the Company to lock in a share price on the sale of shares of its common stock at the time the agreement is executed, but defer receipt of the proceeds from the sale of shares until a later date should the Company elect to settle such forward sale agreement, in whole or in part, in shares of its common stock.
+Added: During the year ended December 31, 2021, the Company did not issue any shares of common stock under the 2021 ATM Program or the 2018 ATM Program.
+Added: As of December 31, 2021, there were no outstanding forward sale agreements, and $900.0 million of shares remain available to be sold under the 2021 ATM Program.
Issuer Purchases of Equity Securities
1 unchanged sentence
In February 2019, the Board of Directors approved the replenishment of the stock repurchase plan such that, as of such date, the Company had $250.0 million of purchase authority remaining under the stock repurchase plan.
−Removed: During the year ended December 31, 2020, the Company repurchased and retired 1,197,190 shares of its common stock totaling $269.3 million, including commissions, at an average price of $224.96 per share.
In each of May and December 2020, the Board of Directors approved the replenishment of the stock repurchase plan such that, as of each such date, Essex had $250.0 million of purchase authority remaining under the replenished plan.
+Added: During the year ended December 31, 2021, the Company repurchased and retired 40,000 shares of its common stock totaling $9.2 million, including commissions, at an average price of $229.30 per share.
+Added: All of such purchases occurred during the three months ended March 31, 2021, and the Company did not repurchase any shares in 2021 subsequent to March 31, 2021.
As of December 31, 2021, the Company had $214.5 million of purchase authority remaining under the stock repurchase plan.
17 unchanged sentences
Partnership's partnership agreement, for an aggregate of 30,360 and 24,666 OP Units during the years ended December 31, 2021 and 2020, respectively.
−Removed: During the years ended December 31, 2020 and 2019, Essex issued an aggregate of 8,783 and 12,633 shares of its common stock in connection with the exchange of OP Units and DownREIT units by limited partners or members into shares of common stock, respectively.
+Added: During the years ended December 31, 2021 and 2020, Essex issued an aggregate of 10,293 and 8,783 shares of its common stock in connection with the exchange of OP Units by limited partners into shares of common stock.
For each share of common stock issued by Essex in connection with such exchange, the Operating Partnership issued OP Units to Essex as required by the Operating Partnership's partnership agreement, for an aggregate of 10,293 and 8,783 OP Units during the year ended December 31, 2021 and 2020, respectively.
Essex may sell shares through its equity distribution program, then contribute the net proceeds from these share issuances to the Operating Partnership in exchange for OP Units as required by the Operating Partnership's partnership agreement.
−Removed: During the year ended December 31, 2020, the Company did not issue any shares of common stock through its equity distribution program.
−Removed: As of December 31, 2020, there were no outstanding forward purchase agreements.
−Removed: During the year ended December 31, 2019, 228,271 shares of the Company's common stock were issued or sold by Essex pursuant to its equity distribution programs.
−Removed: Stock Repurchases
−Removed: The following table summarizes the Company's purchase of its common stock during the three months ended December 31, 2020:
−Removed: Total Number of
−Removed: Shares Purchased Average Price
−Removed: Paid Per Share Total Number of Shares
−Removed: Purchased as Part of a
−Removed: Publicly Announced
−Removed: Maximum Dollar Value of Shares that May Yet Be Purchased Under the Program (in millions) (1)
−Removed: October 1, 2020 - October 31, 2020 56,600 $ 191.05 56,600 $ 192.5
−Removed: November 1, 2020 - November 30, 2020 33,182 196.59 33,182 186.0
−Removed: December 1, 2020 - December 31, 2020 121,899 237.80 121,899 223.6
−Removed: Total 211,681 $ 218.84 211,681 $ 223.6
−Removed: (1) In December 2020, the Board of Directors approved the replenishment of the stock repurchase plan such that, as of such date, the Company had $250.0 million of purchase authority remaining under the replenished plan.
−Removed: Selected Financial Data
−Removed: Not applicable.
+Added: During the year ended December 31, 2021 and 2020, the Company did not issue or sell any shares of common stock pursuant to the 2021 ATM Program or the 2018 ATM Program.
+Added: As of December 31, 2021, there were no outstanding forward sale agreements.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.