Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Issuer Purchases of Equity Securities
2026 Total Number of
Shares (or Units)
Purchased(1) Average Price
Paid Per Share(2) Total Number of Shares (or Units) Purchased as Part of Publicly Announced Plans or Programs(3) Maximum Number (or Approximate Dollar Value) of Shares (or Units) that May Yet Be Purchased Under the Plans or Programs(3)
January 1 to January 31 9,884 $ 342.99 — 7,195,462
February 1 to February 28 1,291,150 339.71 428,708 6,766,754
March 1 to March 31 628,607 285.31 597,528 6,169,226
Total January 1 to March 31 1,929,641 $ 322.00 1,026,236 6,169,226
April 1 to April 30 3,905 $ 302.97 — 6,169,226
May 1 to May 31 258,730 339.05 234,496 5,934,730
June 1 to June 30 68,136 344.69 65,845 5,868,885
Total April 1 to June 30 330,771 $ 339.79 300,341 5,868,885
Total January 1 to June 30 2,260,412 $ 324.60 1,326,577 5,868,885
(1) Includes the repurchase of 903,405 and 30,430 shares in treasury transactions arising from net settlement of equity awards to satisfy minimum tax obligations during the three months ended March 31, 2026 and June 30, 2026, respectively.
(2) Excludes excise tax levied on share repurchases, net of issuances.
(3) On April 29, 2025, our Board of Directors authorized (in addition to the net settlement of equity awards) the repurchase of Class A Shares and/or LP Units so that from that date forward, we are able to repurchase an aggregate of the lesser of $1.6 billion worth of Class A Shares and/or LP Units and 8.0 million Class A Shares and/or LP Units. Under this share repurchase program, shares may be repurchased from time to time in open market transactions, in privately-negotiated transactions or otherwise. The timing and the actual amount of shares repurchased will depend on a variety of factors, including legal requirements, price and economic and market conditions. This program may be suspended or discontinued at any time and does not have a specified expiration date.
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