Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
−Removed: As of December 31, 2023, the Corporation had 163.8 million shares of $2.50 par value common stock outstanding held by approximately 42,078 holders of record.
+Added: As of February 3, 2025, the Corporation had 182.2 million shares of $2.50 par value common stock outstanding held by approximately 48,603 holders of record.
The closing price per share of the Corporation's common stock on February 25, 2025 was $19.57.
25 unchanged sentences
Total 2,702,997 $ 12.61 5,030,550
−Removed: (1) The number of securities to be issued upon exercise of outstanding options, warrants and rights includes 1,291,601 PSUs, which is the target number of PSUs that are payable under the Employee Equity Plan, though no shares will be issued until achievement of applicable performance goals, 40,135 stock option units, 1,074,639 time-vested RSUs granted under the Employee Equity Plan and 296,231 time-vested RSUs granted under the Directors' Plan.
−Removed: (2) The weighted-average exercise price of outstanding options, warrants and rights does not take into account outstanding PSUs and RSUs granted under the Employee Equity and the Directors' Plan.
−Removed: (3) Consists of 4,369,008 shares that may be awarded under the Employee Equity Plan, 398,341 shares that may be awarded under the Directors' Plan and 999,017 shares that may be purchased under the ESPP.
+Added: (1) The number of securities to be issued upon exercise of outstanding options, warrants and rights includes:
+Added: (i) 1,094,846 PSUs, which is the target number of PSUs that are payable under the Employee Equity Plan, though no shares will be issued until achievement of applicable performance goals, (ii) 1,315,836 time-vested RSUs granted under the Employee Equity Plan and (iii) 292,315 time-vested RSUs granted under the Directors' Plan.
+Added: (2) The weighted-average exercise price of outstanding warrants and rights does not take into account outstanding PSUs and RSUs granted under the Employee Equity Plan and the Directors' Plan.
+Added: (3) Consists of:
+Added: (i) 3,839,493 shares that may be awarded under the Employee Equity Plan, (ii) 325,059 shares that may be awarded under the Directors' Plan and (iii) 865,998 shares that may be purchased under the ESPP.
Excludes accrued purchase rights under the ESPP as of December 31, 2024 as the number of shares to be purchased is indeterminable until the shares are issued.
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Issuer Purchases of Equity Securities
−Removed: Period Total Number of Shares Purchased Average Price Paid per Share (1)
−Removed: Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (2)
−Removed: Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs (2)
−Removed: October 1, 2023 to October 31, 2023 — $ — — $ 29,060,105
−Removed: November 1, 2023 to November 30, 2023 441,638 13.85 441,638 22,943,716
−Removed: December 1, 2023 to December 31, 2023 — — — —
−Removed: Total 441,638 $ 13.85 441,638
−Removed: (1) Includes 1% excise tax on net repurchases of the Corporation's common stock.
−Removed: (2) On December 20, 2022, the Corporation announced the 2023 Repurchase Program which authorized the Corporation to repurchase up to $100.0 million of its common stock through December 31, 2023.
−Removed: The 2023 Repurchase Program expired on December 31, 2023.
+Added: There were no repurchases of our common stock during the fourth quarter of 2024.
+Added: During 2024, 1.9 million shares were repurchased at a total cost of $30.3 million, or $15.69 per share, under t he 2024 Repurchase Program.
On December 17, 2024, the Corporation announced that its Board of Directors approved the 2025 Repurchase Program.
The 2025 Repurchase Program will expire on December 31, 2025.
−Removed: Under the 2024 Repurchase Program, the Corporation is authorized to repurchase up to $125.0 million of shares of its common stock outstanding shares through December 31, 2024.
−Removed: Under this authorization, up to $25.0 million of the $125 million authorization may be used to repurchase shares of the Corporation's preferred stock and outstanding subordinated notes.
+Added: Under the 2025 Repurchase Program, the Corporation is authorized to repurchase up to $125.0 million of shares of its common stock.
+Added: Under this authorization, up to $25.0 million of the $125 million authorization may be used to repurchase the Corporation's Preferred Stock through December 31, 2025.
As permitted by securities laws and other legal requirements and subject to market conditions and other factors, purchases may be made from time to time under the 2025 Repurchase Program in open market or privately negotiated transactions, including without limitation, through accelerated share repurchase transactions.
1 unchanged sentence
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.