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In December 2024, we entered into an Accelerated Share Repurchase (“ASR”) agreement with
−Removed: Bank of America to repurchase $250.0 million of our common stock.
−Removed: Pursuant to the agreement, at the inception of the ASR,
−Removed: we paid $250.0 million to Bank of America and took initial delivery of 4.2 million shares, representing approximately 80 percent of the total shares that will be repurchased under the ASR agreement measured based on the closing price of our common stock on the transaction trade date.
−Removed: The final share count will be determined at the transaction settlement date.
+Added: Bank of America, N.A.
+Added: to repurchase $250.0 million of our outstanding common stock.
+Added: Pursuant to the agreement, at the inception of the ASR, we paid $250.0 million to Bank of America, N.A.
+Added: and took initial delivery of 4.2 million shares, representing approximately 80 percent of the total shares to be repurchased under the ASR agreement measured based on the closing price of our common stock on the transaction trade date.
+Added: In March 2025, we finalized the ASR transaction resulting in a total repurchase of 4.7 million shares at an average price of $53.95 per share.
+Added: In May 2025, we announced a second $250.0 million share repurchase under the $750.0 million approved program from February 2024.
+Added: The second $250.0 million share repurchase was completed in June 2025, resulting in a total purchase of 4.8 million shares at an average price of $52.09 per share.
+Added: In June 2025, we initiated the third $250.0 million share repurchase tranche under the $750.0 million approved program from February 2024.
+Added: As of December 31, 2025, $92.3 million has been used to repurchase approximately 1.7 million shares at an average price of $52.89 per share.
All shares repurchased under our capital return programs have been retired and have resumed their status of authorized and unissued shares.
The table below sets forth information regarding repurchases during the three months ended December 31, 2025:
−Removed: Period Total Number of Shares Purchased Weighted-Average Price paid per share Total Number of Shares Purchased as Part of Publicly Announced Programs Approximate Dollar Value of Shares That May Yet Be purchased under the Programs (thousands)
+Added: Period Total Number of Shares Purchased Average Price paid per share
+Added: Total Number of Shares Purchased as Part of Publicly Announced Programs Approximate Dollar Value of Shares That May Yet Be purchased under the Programs (in thousands)
October 1, 2025 through October 31, 2025 — $ — — $ 157,629
−Removed: — $ — — $ 750,000
November 1, 2025 through November 30, 2025 — $ — — $ 157,629
−Removed: — $ — — $ 750,000
December 1, 2025 through December 31, 2025 — $ — — $ 157,629
−Removed: 4,181,476 $ — 4,181,476 $ 500,000
−Removed: Total 4,181,476 4,181,476
−Removed: (1) Purchased under the share repurchase program authorized in February 2024.
−Removed: The shares are purchased through an ASR agreement to repurchase $250.0 million of common stock.
−Removed: In December 2024, we took initial delivery of 4.2 million shares, representing approximately 80 percent of the total shares that will be repurchased under the ASR agreement measured based on the closing price of our common stock on the transaction trade date.
−Removed: The final share count will be determined at settlement date.
Stock Performance Graph and Cumulative Total Return
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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.