Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
 
Issuer Purchases of Equity Securities
 
Information on our purchases of equity securities during the third quarter ended September 2, 2023 is as follows:
 
 
 
 
 
 
 
 
 
 
 
(d)
 
 
 
 
 
 
 
 
 
 
 
Maximum
 
 
 
 
 
 
 
 
 
 
 
Approximate Dollar
 
 
 
(a)
 
 
 
 
 
 
Value of Shares that
 
 
 
Total
 
 
(b)
 
 
may yet be
 
 
 
Number of
 
 
Average
 
 
Purchased Under the
 
 
 
Shares
 
 
Price Paid
 
 
Plan or Program
 
Period
 
Purchased 1
 
 
per Share
 
 
(millions)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
June 4, 2023 - July 8, 2023
 
 
77
 
 
$
71.51
 
 
$
300,000
 
 
 
 
 
 
 
 
 
 
 
 
 
 
July 9, 2023 - August 5, 2023
 
 
48
 
 
$
73.88
 
 
$
300,000
 
 
 
 
 
 
 
 
 
 
 
 
 
 
August 6, 2023 - September 2, 2023
 
 
-
 
 
$
-
 
 
$
300,000
 
 
1 The total number of shares purchased are shares withheld to satisfy the employees’ withholding taxes upon vesting of restricted stock.
 
Repurchases of common stock are made to support our stock-based employee compensation plans and for other corporate purposes. Upon vesting of restricted stock awarded to employees, shares are withheld to cover the employees’ minimum withholding taxes.
 
On April 7, 2022, the Board of Directors authorized a new share repurchase program of up to $300.0 million of our outstanding common shares for a period of up to five years. Under the program, we are authorized to repurchase shares for cash on the open market, from time to time, in privately negotiated transactions or block transactions, or through an accelerated repurchase agreement. The timing of such repurchases is dependent on price, market conditions and applicable regulatory requirements. Upon repurchase of the shares, we reduce our common stock for the par value of the shares with the excess being applied against additional paid-in capital. This authorization replaces the April 6, 2017 authorization to repurchase shares.
 
 
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