Item 2. Unregistered Sales of Equity Securities
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
During May 2022 and May 2024, our Board of Directors authorized share repurchase programs under which LP was authorized to repurchase up to $600 million (the 2022 Share Repurchase Program) and $250 million (the 2024 Share Repurchase Program), respectively, of its outstanding common stock. During the quarter ended September 30, 2024, we repurchased 815,929 shares of our common stock at an average price of $89.37 per share through market purchases pursuant to the 2022 Share Repurchase Program. At September 30, 2024, we had an aggregate of $262 million of repurchase authorization remaining under the 2022 Share Repurchase Program and the 2024 Share Repurchase Program. LP may initiate, discontinue, or resume purchases of its common stock under the 2022 Share Repurchase Program and the 2024 Share Repurchase Program in the open market, in block, and in privately negotiated transactions, including under Rule 10b5-1 plans, at times and in such amounts as management deems appropriate without prior notice, subject to market and business conditions, regulatory requirements, and other factors.
The following amount of our common stock was repurchased under this authorization during the quarter ended September 30, 2024:
Period Total Number of Shares Purchased Average Price Paid Per Share Total Number of Shares Purchased as Part of Publicly Announced Purchase Plans or Programs 1
Approximate Dollar Value of Shares Available for Repurchase Under the Plans or Programs
(in millions)
July 1, 2024 - July 31, 2024 617,525 $ 87.39 617,525 $ 281
August 1, 2024 - August 30, 2024 198,404 $ 95.56 198,404 $ 262
September 1, 2024 - September 30, 2024 — $ — — $ 262
Total for Third Quarter 2024 815,929 815,929
1 On May 3, 2022, LP’s Board of Directors authorized the 2022 Share Repurchase Program under which LP may repurchase shares of its common stock totaling up to $600 million. On May 7 , 2024, LP’s Board of Directors authorized the 2024 Share Repurchase Program under whi ch LP may repurchase shares of its common stock totaling up to $250 million. As of September 30, 2024, LP had an aggregate of $262 million of repurchase authorization remaining under the 2022 Share Repurchase Program and the 2024 Share Repurchase Program.
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