Item 2. Unregistered Sales of Equity Securities
ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds
On October 1, 2021, our Board authorized a share repurchase program of up to $4 billion of our outstanding common stock, enabling us to opportunistically return value to shareholders. The $4 billion authorization is effective for four years, beginning on January 1, 2022 and expiring on December 31, 2025, and does not require the purchase of any minimum number of shares.
The following table summarizes shares repurchased by the Company under this program during the second quarter of 2022:
Period Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Program Maximum Amount of Dollars that May Yet be Used to Purchase Shares Under the Program (in millions)
April 1 to April 30 — $ — — $ 4,000
May 1 to May 31 2,538,904 34.51 2,538,904 3,912
June 1 to June 30 — — — 3,912
Total 2,538,904 $ 34.51 2,538,904 $ 3,912
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.