18 unchanged sentences
Share Repurchase Program
−Removed: In September 2017, the Board approved a share repurchase program that authorizes share repurchases in the aggregate up to $100.0 million.
−Removed: In November 2021, the Board approved an increase to the share repurchase program to a new limit of $200.0 million, inclusive of the prior limit.
−Removed: During the year ended December 31, 2023, we repurchased 180,000 shares under this program at an average price of $100.70 per share.
−Removed: As of December 31, 2023, $93.7 million of authority remained available for share repurchases.
−Removed: The objective of our share repurchase program is to offset dilution resulting from employee stock compensation.
+Added: In September 2017, the Board approved a share repurchase program to offset dilution resulting from employee stock compensation.
Under the program, purchases can be made from time to time at prevailing market prices in open market purchases or in privately negotiated transactions pursuant to Rules 10b5-1 and 10b-18 under the Exchange Act, and in accordance with applicable insider trading and other securities laws and regulations.
2 unchanged sentences
Our Credit Facility permits annual share repurchases of at least $25.0 million provided that the Company is not in default of its covenants, and higher amounts provided that our Consolidated Leverage Ratio, prior to and after giving effect to such repurchases, is 0.50 to 1.00 less than the then-applicable maximum Consolidated Leverage Ratio and subject to a net liquidity of $100.0 million after giving effect to such purchases.
+Added: On November 14, 2024, the Board approved an increase to the share repurchase program, including purchases pursuant to Rules 10b5-1 and 10b-18, to a new limit of $300.0 million, inclusive of the prior limit of $200.0 million.
+Added: During the year ended December 31, 2024, we used $44.4 million to repurchase 327,321 shares under this program at an average price of $135.77 per share.
+Added: As of December 31, 2024, $149.3 million of authority remained available for share repurchases.
Repurchases of Equity Securities
13 unchanged sentences
a) The total number of shares purchased includes any shares repurchased pursuant to our share repurchase program described further in footnote (b) below, as well as shares purchased from employees to pay required withholding taxes related to the settlement of restricted stock units in accordance with our applicable long-term incentive plan.
−Removed: During the three months ended December 31, 2023, we repurchased 4,935 shares of common stock from employees in satisfaction of tax withholding obligations at an average price of $126.64 per share.
+Added: During the three months ended December 31, 2024, we repurchased 136,321 under the stock repurchase program at an average price of $131.47 and 8,326 shares of common stock from employees in satisfaction of tax withholding obligations at an average price of $170.69 per share.
b) The current share repurchase program authorizes share repurchases in the aggregate up to $300.0 million.
Our Credit Facility permits annual share repurchases of at least $25.0 million provided that the Company is not in default of its covenants, and higher amounts provided that our Consolidated Leverage Ratio prior to and after giving effect to such repurchases, is 0.50 to 1.00 less than the then-applicable maximum Consolidated Leverage Ratio and subject to a net liquidity of $100.00 million.
−Removed: For additional information on the share repurchase program, see “Note 18 - Share Repurchase Program” in our financial statements.
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.