UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
−Removed: In February 2022, our Board adopted a share repurchase program (the “General Share Repurchase Program”), under which our Board has made various authorizations for the total repurchase of up to 58.8 million shares of our common stock.
+Added: In February 2022, our Board of Directors (the “Board”) adopted a share repurchase program (the “General Share Repurchase Program”), under which our Board has made various authorizations for the repurchase of shares of our common stock.
+Added: On May 4, 2026, the Board made a new authorization of 14.4 million shares, for a total cumulative authorization of 73.2 million shares as of July 3, 2026.
In 2025, in connection with the Separation, our Board adopted a separate and incremental special purpose share repurchase program (the “Special Share Repurchase Program”) under which we may repurchase up to $550 million of our common stock exclusively from the proceeds we received from Ralliant in connection with the Separation.
−Removed: As of April 3, 2026, there were 6.6 million shares and $67.5 million remaining authorized under the General Share Repurchase Program and Special Share Repurchase Program, respectively.
+Added: As of July 3, 2026, there were 17.7 million shares and $66.7 million remaining authorized under the General Share Repurchase Program and Special Share Repurchase Program, respectively.
There is no expiration date for these repurchase programs, and the timing and amount of repurchases under the programs are determined by the Company's management based on market conditions and other factors.
The repurchase programs may be suspended or discontinued at any time by the Board of Directors.
−Removed: The following table provides details about our share repurchases, including those pursuant to a 10b5-1 plan, during the fiscal quarter ended April 3, 2026.
+Added: The following table provides details about our share repurchases, including those pursuant to a 10b5-1 plan, during the fiscal quarter ended July 3, 2026:
Period Total number
1 unchanged sentence
paid per share
−Removed: of shares (or units)
as part of publicly
1 unchanged sentence
programs Maximum number
−Removed: (or units) that may yet be
+Added: of shares that may yet be
purchased under the
−Removed: General Share Repurchase Program
−Removed: Maximum approximate dollar value that may yet be
+Added: General Share Repurchase Program Maximum approximate dollar value that may yet be
purchased under the
Special Share Repurchase Program
−Removed: January 1 - January 31
−Removed: 2,023,081 $ 53.87 2,023,081 13,480,182 $ 67,483,059
−Removed: February 1 - February 28
−Removed: 5,059,059 56.99 5,059,059 8,421,123 67,483,059
−Removed: March 1 - April 3
−Removed: 1,812,585 56.67 1,812,585 6,608,538 67,483,059
+Added: April 4 - May 3 1,021,741 $ 59.32 1,021,741 5,599,752 $ 66,717,569
+Added: May 4 - June 3 2,066,512 59.46 2,066,512 17,933,488 66,717,569
+Added: June 4 - July 3 272,030 61.06 272,030 17,661,458 66,717,569
Total 3,360,283 $ 59.54 3,360,283 17,661,458 66,717,569
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.