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See Item 1A – Risk Factors – Specific Risk Factors – Risk Related to Federated Hermes’ Corporate Structure – Status as a Controlled Company for additional information on its Class A common stock.
−Removed: The following table summarizes stock repurchases under Federated Hermes’ share repurchase program during the fourth quarter 2023.
+Added: The following table summarizes stock repurchases under Federated Hermes’ share repurchase programs during the fourth quarter 2024.
Purchased Average
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10,626 $ 13.70 0 6,242,415
−Removed: November 830,000 32.22 830,000 5,487,415
224,507 39.03 210,000 6,032,415
+Added: 317,400 41.67 315,000 5,717,415
Total 552,533 $ 40.06 525,000 5,717,415
−Removed: 1 In June 2022, the board of directors authorized a share repurchase program with no stated expiration date that allowed the repurchase of up to 5.0 million shares of Class B common stock.
−Removed: This program was fulfilled in December 2023.
1 In October 2023, the board of directors authorized a share repurchase program with no stated expiration date that allows the repurchase of up to 5.0 million shares of Class B common stock.
−Removed: No other program existed as of December 31, 2023.
+Added: In October 2024, the board of directors authorized an additional share repurchase program with no stated expiration date that allows the repurchase of up to 5.0 million shares of Class B common stock.
+Added: No other programs existed as of December 31, 2024.
See Note (14) to the Consolidated Financial Statements for additional information.
−Removed: 2 In October and December 2023, 5,000 and 32,861 shares, respectively, of Class B common stock with a weighted-average price of $0.00 and $2.65 per share, respectively, were repurchased as employees forfeited restricted stock.
+Added: 2 In October, November and December 2024, 10,626, 14,507 and 2,400 shares, respectively, of Class B common stock with a weighted-average price of $13.70, $0.00 and $3.00 per share, respectively, were repurchased primarily as a result of employee-forfeited restricted stock.
See Item 12 – Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters for information on Federated Hermes’ securities authorized for issuance under equity compensation plans.
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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.