Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities
(c) Issuer Purchases of Equity Securities
On May 3, 2023, our Board of Directors approved a share repurchase program authorizing the Company to repurchase up to an aggregate of $500 million of its outstanding shares of common stock over a two-year period (the “2023 Repurchase Plan”). On August 7, 2024, our Board of Directors approved a new share repurchase program authorizing us to repurchase up to an aggregate of $500 million of our outstanding shares of common stock over a two-year period (the “2024 Repurchase Plan”), which is in addition to the 2023 Share Repurchase Plan. The timing and actual number of shares repurchased will depend on a variety of factors, including the stock price, corporate and regulatory requirements and other market and economic conditions. The shares are retired upon repurchase. The stock repurchase programs may be suspended or discontinued at any time and will automatically expire at the end of the respective plan terms.
During the three months ended September 30, 2024, we repurchased the following shares:
Period Total Number of Shares Purchased Average Price Paid Per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Approximate Dollar Value of Shares that May Yet Be Purchased Under Plans
July 1 - July 31, 2024 1,117,970 $ 41.39 1,117,970 $ 114,510,179
August 1 - August 31, 2024 1,185,177 37.46 1,185,177 570,089,476
September 1 - September 30, 2024 465,094 37.14 465,094 552,805,662
Total 2,768,241 $ 39.00 2,768,241
From October 1, 2024 through October 31, 2024, we repurchased approximately 1.4 million shares for $50 million. As of October 31, 2024, we had $503 million of remaining availability under the share repurchase programs, of which $3 million was under the 2023 Repurchase Plan and $500 million was under the 2024 Repurchase Plan.
Item 3. Defaults Upon Senior Securities
None.
Item 4. Mine Safety Disclosures
Not applicable.
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