Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equi ty Securities and Use of Proceeds
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. There were 492 thousand shares of common stock repurchased under this authorization during the three months ended March 29, 2025. There was $99.9 million available for future share repurchases under this share repurchase authorization at March 29, 2025. For further information, see Note 15, “Share Repurchase Authorization,” of the Notes to the Condensed Consolidated Financial Statements.
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. During the three months ended March 29, 2025, we withheld 49 thousand shares through net share settlements. For the three months ended March 29, 2025, net share settlements cost $8.7 million. 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.
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Table of Contents
The following table provides details of common stock purchased during the three months ended March 29, 2025 (in thousands, except per share data):
Period
Total Number
of Shares
Purchased (1)
Average Price Paid per Share
Total Number of Shares Purchased as Part of Publicly Announced Program
Maximum Approximate Dollar Value of Shares that May Yet be Purchased Under the Program
(in thousands, except for per share data)
Dec 29, 2024 to Jan 28, 2025
1
$
201.06
—
$
174,935
Jan 29, 2025 to Feb 28, 2025
536
$
154.52
492
$
99,935
Mar 1, 2025 to Mar 29, 2025
4
$
145.23
—
$
99,935
Three months ended March 29, 2025
541
$
154.56
492
1 Includes 1 thousand, 44 thousand and 4 thousand shares withheld through net share settlements for each respective period.
Item 3. Defaults Upo n Senior Securities
None.
Item 4. Mine Saf ety Disclosures
None.
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.