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Share repurchases, including those under the repurchase program, were as follows:
+Added: Period Total Number
Repurchased (1)
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Available balance as of June 25, 2023 $ 3,537,217
+Added: June 26, 2023 - July 23, 2023 541 $ 640.02 539 3,191,998
+Added: July 24, 2023 - August 20, 2023 358 $ 682.21 355 2,949,670
+Added: August 21, 2023 - September 24, 2023 367 $ 667.39 363 2,707,343
Quarter ended September 24, 2023 1,266 $ 659.88 (3) 1,257 $ 2,707,343
−Removed: Quarter ended December 25, 2022 1,133 $ 429.27 1,125 4,926,428
−Removed: December 26, 2022 - January 22, 2023 387 $ 441.72 386 4,755,865
−Removed: January 23, 2023 - February 19, 2023 223 $ 507.02 221 4,643,892
−Removed: February 20, 2023 - March 26, 2023 555 $ 489.86 410 4,443,010
−Removed: Quarter ended March 26, 2023 1,165 $ 477.15 (4) 1,017 $ 4,443,010
−Removed: (1) During the three and nine months ended March 26, 2023, we acquired 148 thousand shares at a total cost of $72.5 million, and 167 thousand shares at a total cost of $80.4 million, respectively, which we withheld through net share settlements to cover minimum tax withholding obligations upon the vesting of restricted stock unit awards granted under our equity compensation plans.
+Added: (1) During the three months ended September 24, 2023, we acquired 9 thousand shares at a total cost of $5.5 million, which we withheld through net share settlements to cover minimum tax withholding obligations upon the vesting of restricted stock unit awards granted under our equity compensation plans.
The shares retained by us through these net share settlements are not a part of the Board-authorized repurchase program but instead are authorized under our equity compensation plan.
−Removed: (2) Average price paid per share excludes the effect of accelerated share repurchase activities.
−Removed: See additional disclosure below regarding our accelerated share repurchase activity during the nine months ended March 26, 2023.
−Removed: (3) As of January 1, 2023, our net share repurchases are subject to a 1% excise tax under the Inflation Reduction Act.
−Removed: Excise tax incurred reduces the amount available under repurchase program, as applicable, and is included in the cost of share repurchased in the Condensed Consolidated Statement of Stockholders’ Equity.
−Removed: (4) Average price paid per share presented is for the quarter ended March 26, 2023.
−Removed: Accelerated Share Repurchase Agreements
−Removed: On June 2, 2022, we entered into an accelerated share repurchase agreement (the "June 2022 ASR") with two financial institutions to repurchase a total of $500 million of Common Stock.
−Removed: We took an initial delivery of approximately 717 thousand shares, which represented 75% of the prepayment amount divided by our closing stock price on June 2, 2022.
−Removed: The total number of shares received under the June 2022 ASR was based upon the average daily volume weighted average price of our Common Stock during the repurchase period, less an agreed upon discount.
−Removed: Final settlement of the June 2022 ASR occurred in September 2022, resulting in the receipt of approximately 433 thousand additional shares, which yielded a weighted-average share price of $435.20 for the transaction period.
+Added: (2) Our net share repurchases are subject to a 1% excise tax under the Inflation Reduction Act.
+Added: Excise tax incurred reduces the amount available under repurchase programs, as applicable, and is included in the cost of shares repurchased in the Condensed Consolidated Statement of Stockholders’ Equity and the calculation of the average price paid per share.
+Added: (3) Average price paid per share presented is for the quarter ended September 24, 2023.
Defaults Upon Senior Securities
+Added: Lam Research Corporation 2024 Q1 10-Q 37
Mine Safety Disclosures
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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.