Item 2. Unregistered Sales of Equity Securities
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
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. 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.
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.
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
of shares
purchased
Average price
paid per share
Total number
of shares
purchased
as part of publicly
announced plans or
programs Maximum number
of shares that may yet be
purchased under the
General Share Repurchase Program Maximum approximate dollar value that may yet be
purchased under the
Special Share Repurchase Program
April 4 - May 3 1,021,741 $ 59.32 1,021,741 5,599,752 $ 66,717,569
May 4 - June 3 2,066,512 59.46 2,066,512 17,933,488 66,717,569
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
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.