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 June 30, 2024, was as follows:
+Added: Our share repurchase activity for each of the three months in the period ended September 30, 2024, was as follows:
Period Total Number of Shares Purchased (1)
−Removed: Average Price Paid Per Share (1)
−Removed: 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: April 1-30, 2024 — $ — — $ 1,000,000,000
−Removed: May 1-31, 2024 — $ — — $ 1,000,000,000
−Removed: June 1-30, 2024 7,651,096 $ 48.36 7,651,096 $ 990,002,556
+Added: 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
+Added: July 1-31, 2024 4,813,800 48.05 4,813,800 758,711,760
+Added: August 1-31, 2024 4,694,454 51.07 4,692,500 519,053,962
+Added: September 1-30, 2024 4,003,761 52.34 4,003,000 309,534,422
13,512,015 50.37 13,509,300
−Removed: (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.
−Removed: 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).
−Removed: 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.
−Removed: The average repurchase price of the shares repurchased under the ASR Agreements was $44.50 per share.
−Removed: 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).
−Removed: For further discussion of our share repurchase program, see Note 1.
+Added: (1) The total number of shares purchased includes (a) shares purchased under the January 2024 share repurchase program and (b) shares withheld by Altria in an amount equal to the statutory withholding taxes for vested stock-based awards previously granted to eligible employees (which totaled 1,954 in August and 761 in September).
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