Unregistered Sales of Equi ty Securities and Use of Proceeds
−Removed: In November 2020, the Onto Innovation Board of Directors approved a share repurchase authorization, which allows the Company to repurchase up to $100 million worth of shares of its common stock.
−Removed: During the three and nine months ended September 30, 2023, we repurchased 0 and 46 thousand shares of common stock, respectively, under this repurchase authorization and those shares were subsequently retired.
−Removed: At September 30, 2023, there was $31.6 million available for future share repurchases under this share repurchase authorization.
−Removed: For further information, see Note 15, “Share Repurchase Authorization”
−Removed: of the Notes to the Condensed Consolidated Financial Statements.
−Removed: In addition to our share repurchase program, we withhold common stock shares associated with net share settlements to cover tax withholding obligations upon the vesting of restricted stock unit awards and stock option exercises under the Company’s equity incentive program.
−Removed: During the three and nine months ended September 30, 2023, we withheld 3 thousand and 168 thousand shares through net share settlements.
−Removed: For the three and nine month period ended September 30, 2023, net share settlements cost $0.4 million and $10.4 million, respectively.
−Removed: Please refer to Note 9, “Share-Based Compensation,”
−Removed: of the Notes to the Condensed Consolidated Financial Statements for further discussion regarding our equity incentive plan.
−Removed: The following table provides details of common stock purchased during the three months ended September 30, 2023 (in thousands, except per share data):
+Added: In February 2024, the Onto Innovation Board of Directors approved a new share repurchase authorization, which allows the Company to repurchase up to $200 million worth of shares of its common stock.
+Added: There were no repurchases of common stock under this authorization during the three months ended March 30, 2024.
+Added: There was $200 million available for future share repurchases under this share repurchase authorization at March 30, 2024.
+Added: For further information, see Note 15, “Share Repurchase Authorization,” of the Notes to the Condensed Consolidated Financial Statements.
+Added: In addition to our share repurchase program, we withhold common stock shares associated with net share settlements to cover tax withholding obligations upon the vesting of restricted stock unit awards under the Company’s equity incentive program.
+Added: During the three months ended March 30, 2024, we withheld 53 thousand shares through net share settlements.
+Added: For the three month period ended March 30, 2024, net share settlements cost $9.1 million.
+Added: Please refer to Note 9, “Share-Based Compensation,” of the Notes to the Condensed Consolidated Financial Statements for further discussion regarding our equity incentive plan.
+Added: The following table provides details of common stock purchased during the three months ended March 30, 2024 (in thousands, except per share data):
Purchased (1)
2 unchanged sentences
Maximum Approximate Dollar Value of Shares that May Yet be Purchased Under the Program
−Removed: July 2, 2023 - August 1, 2023
−Removed: August 2, 2023 - September 1, 2023
−Removed: September 2, 2023 - September 30, 2023
−Removed: Three months ended September 30, 2023
+Added: December 31, 2023 - January 30, 2024
+Added: January 31, 2024 - February 29, 2024
+Added: March 1, 2024 - March 30, 2024
+Added: Three months ended March 30, 2024
1 Includes shares withheld through net share settlements.
2 unchanged sentences
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.