Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
The table below summarizes our repurchases of common stock during the three months ended June 30, 2024.
Period Total Number
of Shares
Purchased Average Price
Paid per
Share (1)(2)
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
($ in millions)
March 30, 2024 - April 26, 2024 118,798 $ 460.43 118,798 $ 2,391
April 27, 2024 - May 24, 2024 821,306 NM (2)
821,306 2,177
May 25, 2024 - June 28, 2024 691,988 $ 437.31 691,988 1,874
Total 1,632,092 NM (2)
1,632,092 $ 1,874
(1) Excludes commissions paid and other costs of execution, including taxes.
(2) During the first quarter of 2024, the company entered into an accelerated share repurchase (ASR) agreement with Morgan Stanley, which was completed on May 1, 2024. Pursuant to the terms of the ASR, a total of approximately 2.2 million shares of our common stock were repurchased with an average final purchase price of of $455.73 (1.8 million shares in January 2024 and 0.4 million shares in May 2024).
Share repurchases take place from time to time, subject to market conditions and management’s discretion, in the open market or in privately negotiated transactions. The company retires its common stock upon repurchase and, in the periods presented, has not made any purchases of common stock other than in connection with these publicly announced repurchase programs.
See Note 2 to the financial statements for further information on our share repurchase programs.
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NORTHROP GRUMMAN CORPORATION
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.