4 unchanged sentences
We did not pay dividends during fiscal 2025 or 2024.
−Removed: Under our credit agreements, we are permitted to pay dividends on our common stock, subject to certain restrictions based upon the calculation of debt covenants, as defined in our credit
+Added: Under our credit agreements, we are permitted to pay dividends on our common stock, subject to certain restrictions based upon the calculation of debt covenants, as defined in our credit agreements.
We currently do not intend to pay dividends in fiscal 2026.
1 unchanged sentence
Total Number of
−Removed: Shares Purchased
−Removed: Total Number of
+Added: Approximate Dollar
Shares Purchased
+Added: Value) of Shares
as Part of Publicly
+Added: that May Yet Be
+Added: Total Number of
Announced Plans
−Removed: Maximum Number (or
−Removed: Approximate Dollar Value)
−Removed: of Shares that May Yet Be
−Removed: Purchased Under the Plans
−Removed: or Programs (a)
+Added: Purchased Under the
+Added: Shares Purchased
+Added: Plans or Programs (a)
January 1 - January 31, 2025
1 unchanged sentence
March 1 - March 31, 2025
−Removed: Effective November 5, 2022, the Company’s Board of Directors authorized the Company to repurchase up to $50.0 million of Modine common stock at such times and prices that it deems to be appropriate.
−Removed: This authorization expires in November
−Removed: Includes shares delivered back to the Company by employees and/or directors to satisfy tax withholding obligations that arise upon the vesting of stock awards.
−Removed: The Company, pursuant to its equity compensation plans, gives participants the
−Removed: opportunity to turn back to the Company the number of shares from the award sufficient to satisfy tax withholding obligations that arise upon the termination of restrictions.
+Added: 230,470 (b) (c)
+Added: (a) Effective March 7, 2025, the Company’s Board of Directors authorized the Company to repurchase up to $100 million of Modine common stock at such times and prices that it deems to be appropriate.
+Added: This share repurchase authorization does not expire.
+Added: (b) Includes shares delivered back to the Company by employees and/or directors to satisfy tax withholding obligations that arise upon the vesting of stock awards.
+Added: The Company, pursuant to its equity compensation plans, gives participants the opportunity to turn back to the Company the number of shares from the award sufficient to satisfy tax withholding obligations that arise upon the termination of restrictions.
These shares are held as treasury shares.
+Added: (c) Includes shares acquired pursuant to the repurchase program described in (a) above.
PERFORMANCE GRAPH
−Removed: The following graph compares the cumulative five-year total return on our common stock with similar returns on the Russell 2000 Index, the Standard &
−Removed: Poor’s (S&P) MidCap 400 Industrials Index, and the S&P SmallCap 600 Industrials Index.
−Removed: B ased upon the Company’s higher market capitalization as compared with the
−Removed: prior year, the Company determined the S&P MidCap 400 Industrials Index was more representative of its business and plans to replace the S&P
−Removed: SmallCap 600 Industrials Index for purposes of this graph beginning in fiscal 2025.
+Added: The following graph compares the cumulative five-year total return on our common stock with similar returns on the Russell 2000 Index and the Standard & Poor’s (S&P) MidCap 400 Industrials Index.
The graph assumes a $100 investment and reinvestment of dividends.
8 unchanged sentences
S&P MidCap 400 Industrials Index
−Removed: S&P SmallCap 600 Industrials Index
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.