Item 2. Unregistered Sales of Equity Securities
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
The following table summarizes our purchases of our Common Stock (CS) and Common Stock Non-Voting (CSNV) during the first quarter of 2022.
ISSUER PURCHASES OF EQUITY SECURITIES
Period Total Number of
Shares Purchased Average Price Paid per share Total
Number of
Shares
Purchased
as Part of
Publicly
Announced
Plans or
Programs Approximate
Dollar Value
of Shares that
May Yet Be
Purchased
Under the
Plans or
Programs
December 1, 2021 to December 31, 2021 CS – 34,457 (1)
$ 90.48 34,457 $573 million
CSNV – 0 $ — —
January 1, 2022 to January 31, 2022 CS – 19,074 (2)
$ 97.86 19,074 $571 million
CSNV – 0 $ — —
February 1, 2022 to February 28, 2022 CS – 36,681 (3)
$ 100.54 36,681 $567 million
CSNV – 0 $ — —
Total CS – 90,212 $ 96.13 90,212 $567 million
CSNV – 0 $ — —
(1) On December 8, 2021 and December 14, 2021, we purchased 17,394 shares and 17,063 shares, respectively, of our CS from our U.S. defined contribution retirement plan to manage shares, based upon participant activity, in the plan's company
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stock fund. The prices paid per share represented the closing price of the common shares on December 8, 2021 and December 14, 2021, respectively.
(2) On January 28, 2022, we purchased 19,074 shares of our CS from our U.S. defined contribution retirement plan to manage shares, based upon participant activity, in the plan's company stock fund. The price paid per share represented the closing price of the common shares on January 28, 2022.
(3) On February 4, 2022 and February 17, 2022, we purchased 17,980 shares and 16,701 shares, respectively, of our CS from our U.S. defined contribution retirement plan to manage shares, based upon participant activity, in the plan's company stock fund. The price paid per share represented the closing price of the common shares on February 4, 2022 and February 17, 2022, respectively.
As of February 28, 2022, $567.4 million remained of the $600 million share repurchase authorization approved by the Board of Directors in November 2019. The timing and amount of any shares repurchased is determined by our management based on its evaluation of market conditions and other factors.
In certain circumstances, we issue shares of CS in exchange for shares of CSNV, or issue shares of CSNV in exchange for shares of CS, in either case pursuant to the exemption from registration provided by Section 3(a)(9) of the Securities Act of 1933, as amended. Typically, these exchanges are made in connection with the administration of our employee benefit plans, executive compensation programs and dividend reinvestment/direct purchase plans or at the request of holders of common stock. The number of shares issued in an exchange is generally equal to the number of shares received in the exchange, although the number may differ slightly to the extent necessary to comply with the requirements of the Employee Retirement Income Security Act of 1974. During the first quarter of 2022, we issued 703,996 shares of CSNV in exchange for shares of CS and issued 27,362 shares of CS in exchange for shares of CSNV.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None.
ITEM 4. MINE SAFETY DISCLOSURES
Not Applicable.
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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.