Market for Registrant’s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities
−Removed: The Company’s common stock is listed on the New York Stock Exchange ("NYSE") and is traded under the symbol "LUV." Although the Company previously suspended the payment of dividends in second quarter 2020 through September 30, 2022, pursuant to payroll funding support agreements with the U.S.
−Removed: Department of the Treasury, the Company reinstated and declared a quarterly cash dividend of $.18 per share on December 6, 2022, and has continued to pay quarterly dividends since the reinstatement.
−Removed: The Company currently intends to continue declaring dividends on a quarterly basis for the foreseeable future;
+Added: The Company’s common stock is listed on the New York Stock Exchange ("NYSE") and is traded under the symbol "LUV." The Company currently intends to continue declaring dividends on a quarterly basis for the foreseeable future;
however, the Board may elect to alter the timing, amount, and payment of dividends on the basis of operational results, financial condition, cash requirements, future prospects, and other factors deemed relevant by the Board.
12 unchanged sentences
Issuer Repurchases
−Removed: On May 15, 2019, the Board authorized the repurchase of up to $2.0 billion of the Company’s common stock.
+Added: Issuer Purchases of Equity Securities (1)
+Added: (a) (b) (c) (d)
+Added: Period Total number of shares purchased Average price paid per share (2) Total number of shares purchased as part of publicly announced plans or programs Maximum dollar value of shares that may yet be purchased under the plans or programs
+Added: October 1, 2024 through October 31, 2024 6,795,787 $ — (3) 6,795,787 $ 2,250,000,000
+Added: November 1, 2024 through November 30, 2024 — $ — — $ 2,250,000,000
+Added: December 1, 2024 through December 31, 2024 — $ — — $ 2,250,000,000
+Added: Total 6,795,787 6,795,787
+Added: (1) On May 15, 2019, the Board authorized the repurchase of up to $2.0 billion of the Company’s common stock, of which approximately $899 million remained as of September 2024.
+Added: On September 25, 2024, the Board terminated and replaced this previous share repurchase authorization with a new $2.5 billion share repurchase authorization of the Company’s common stock.
Subject to certain conditions, repurchases may be made in accordance with applicable securities laws in open market or private, including accelerated, repurchase transactions from time to time, depending on market conditions.
−Removed: The Company has suspended share repurchase activity until further notice.
−Removed: The Company has approximately $899 million remaining under its current share repurchase authorization.
+Added: (2) Excludes immaterial amount of excise tax on share repurchases, net of issuances, payable in April 2025.
+Added: (3) Under an accelerated share repurchase program entered into by the Company with a third party financial institution in fourth quarter 2024 (the "Fourth Quarter 2024 ASR Program"), the Company paid $250 million and received an initial delivery of 6,795,787 shares during October 2024, representing an estimated 80 percent of the shares to be purchased by the Company under the Fourth Quarter 2024 ASR Program.
+Added: This share amount was based on the $29.43 closing price of the Company's common stock on October 25, 2024.
+Added: Final settlement of the Fourth Quarter 2024 ASR Program occurred in January 2025 and was based on a discount to the volume-weighted average price per share of the Company's common stock during a calculation period completed in January 2025.
+Added: Upon settlement, the third party financial institution delivered 1,010,663 additional shares of the Company’s common stock to the Company.
+Added: Upon completion of the Fourth Quarter 2024 ASR Program in January 2025, the average purchase price per share for the 7,806,450 shares repurchased was $32.02.
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.