3 unchanged sentences
The timing of share repurchases depends upon marketplace conditions and other factors, and the program remains subject to the discretion of our Board of Directors.
−Removed: Our share repurchase activity for each of the three months in the period ended March 31, 2024, was as follows:
−Removed: 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
−Removed: January 1-31, 2024 — $ — — $ 1,000,000,000
−Removed: February 1-29, 2024 (1)
−Removed: 358,904 $ 40.90 — $ 1,000,000,000
−Removed: March 1-31, 2024 (2)
−Removed: 46,501,025 $ 43.87 46,501,025 $ 1,000,000,000
+Added: Our share repurchase activity for each of the three months in the period ended June 30, 2024, was as follows:
+Added: Period Total Number of Shares Purchased (1)
+Added: Average Price Paid Per Share (1)
+Added: 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
+Added: April 1-30, 2024 — $ — — $ 1,000,000,000
+Added: May 1-31, 2024 — $ — — $ 1,000,000,000
+Added: June 1-30, 2024 7,651,096 $ 48.36 7,651,096 $ 990,002,556
7,651,096 $ 48.36 7,651,096
−Removed: (1) Consists of shares withheld by Altria in an amount equal to the statutory withholding taxes for vested stock-based awards previously granted to eligible employees.
−Removed: (2) Consists of shares initially repurchased by Altria under two separate agreements with bank counterparties (collectively, “ASR Agreements”) at a price equal to the closing price of our common stock on the date we entered into the ASR Agreements.
−Removed: The total number of shares to be repurchased and the final per share purchase price for shares purchased under each ASR Agreement will be determined at the end of the applicable purchase period, which is scheduled to occur by June 30, 2024, but may occur earlier in certain circumstances.
−Removed: As a result, $360 million (15% of the aggregate repurchase price of $2.4 billion) was paid and recorded in additional paid-in capital (“APIC”) in our condensed consolidated statement of stockholders’ equity (deficit) and will remain in APIC until final settlement.
+Added: (1) During the first quarter of 2024, we entered into two separate accelerated share repurchase agreements with bank counterparties (collectively, “ASR Agreements”) to repurchase an aggregate $2.4 billion of common stock.
+Added: In the first quarter, we paid the $2.4 billion aggregate repurchase price and received approximately 46.5 million shares of our common stock (85% of the $2.4 billion aggregate repurchase price calculated on the basis of a price of $43.87 per share, the closing price of our common stock on March 15, 2024, the date we entered into the ASR Agreements).
+Added: In the second quarter of 2024, we received approximately 7.4 million additional shares of our common stock upon the final settlement of the ASR Agreements.
+Added: The average repurchase price of the shares repurchased under the ASR Agreements was $44.50 per share.
+Added: In addition, in June 2024 we repurchased approximately 0.2 million shares under our January 2024 share repurchase program at an aggregate cost of approximately $10 million (average price per share of $45.53).
For further discussion of our share repurchase program, see Note 1.
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