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Our common stock trades on The Nasdaq Global Select Market under the symbol “IART.” The number of stockholders of record as of February 21, 2023 was approximate ly 779, which includes stockholders whose shares were held in nominee name.
+Added: Dividend Policy
+Added: We have not paid any cash dividends on our common stock since our formation.
+Added: Our Senior Credit Facility (as defined below) limits the amount of dividends that we may pay.
+Added: Any future determinations to pay cash dividends on our common stock will be at the discretion of the Board and will depend upon our financial condition, results of operations, cash flows and other factors deemed relevant by the Board.
Sales of Unregistered Securities
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Issuer Purchases of Equity Securities
−Removed: On December 7, 2020, the Board of Directors authorized the Company to repurchase up to $225 million of the Company’s common stock.
+Added: On January 12, 2022, the Company entered into a $125.0 million accelerated share repurchase ("2022 ASR") and received 1.48 million shares of the Company common stock at inception of the 2022 ASR, which represented approximately 80% of the expected total shares under the 2022 ASR.
+Added: On March 24, 2022, the early exercise provision was exercised by 2022 ASR counterparty.
+Added: Upon settlement on March 24, 2022, the Company received an additional 0.46 million shares determined using the volume-weighted average price of the Company's common stock during the term of the 2022 ASR.
+Added: On April 26, 2022, the Board of Directors authorized the Company to repurchase up to $225.0 million of the Company’s common stock.
The program allows the Company to repurchase its shares opportunistically from time to time.
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Purchases may be affected through one or more open market transactions, privately negotiated transactions, transactions structured through investment banking institutions, or a combination of the foregoing.
+Added: On January 26, 2023, the Company entered into a $150 million accelerated share repurchase ("2023 ASR") and received 2.1 million shares of the Company common stock at inception of the 2023 ASR, which represented approximately 80% of the expected total shares of under the 2023 SAR.
+Added: The remaining repurchase transactions are expected to be completed in the first half of 2023.
For the year ended December 31, 2021, there were no repurchases of the Company’s common stock as part of the share repurchase authorization.
−Removed: On January 12, 2022, the Company entered into a $125.0 million accelerated share repurchase ("2022 ASR") and received 1.5 million shares of Company common stock at inception of the 2022 ASR, which represented approximately 80% of the expected total shares under the 2022 ASR.
−Removed: The remaining 20% of the expected total shares is expected to settle in the first half of 2022, upon which additional shares of common stock may be delivered to the Company or, under certain circumstances, the Company may be required to make a cash payment or may elect to deliver shares of our common stock to the 2022 ASR counterparty in each case pursuant to the terms of the 2022 ASR agreement between the Company and the 2022 ASR counter party.
−Removed: The total number of shares to be delivered or the amount of such payment, as well as the final average price per share, will be based on the volume-weighted average price, less a discount, of the Company's common stock during the term of the transaction.
−Removed: As a result of this transaction, $100.0 million remains available under the $225.0 million stock repurchase authorization.
−Removed: During the twelve months ended December 31, 2020, the Company repurchased 2.1 million shares of Integra’s common stock as part of the previous share repurchase authorization.
−Removed: The Company utilized $100.0 million of net proceeds from the offering of convertible notes to execute the share repurchase transactions.
−Removed: This included $7.6 million from certain purchasers of the convertible notes in conjunction with the closing of the offering.
−Removed: On February 5, 2020, the Company entered into a $92.4 million accelerated share repurchase ("2020 ASR") to complete the remaining $100.0 million of share repurchase.
−Removed: The Company received 1.3 million shares at inception of the 2020 ASR, which represented approximately 80% of the expected total shares.
−Removed: Upon settlement of the 2020 ASR in June 2020, the Company received an additional 0.6 million shares determined using the volume-weighted average price of the Company's common stock during the term of the transaction.
−Removed: See Note 8, Treasury Stock of the Notes to Consolidated Financial Statements (Part II, Item 8 of this Form 10-K) for further details.
+Added: See Note 8, Treasury Stock to the Notes to Consolidated Financial Statements (Part IV, Item 15 of this Annual Report on Form 10-K) for further details.
+Added: Securities Authorized for Issuance under Equity Compensation Plan
+Added: The information required by this item regarding our equity compensation plans is incorporated herein by reference to Item 12 of Part III of this Annual Report on Form 10-K.
+Added: Stock Performance Graph
+Added: The graph below compares the five-year total return to stockholders on our common stock with the return of the Standard & Poor’s (S&P) 500 Stock Index and the S&P Healthcare Equipment Index.
+Added: The Company’s cumulative shareholder return is based on an investment of $100 on December 31, 2017 and is compared to the cumulative total return of the S&P indices mentioned above over the period with a like amount invested.
+Added: The stock price performance shown on the graph above is not indicative of future price performance.
+Added: This graph shall not be deemed filed for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section nor shall it be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, regardless of any general incorporation language in such filing.
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.