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 0 and 492 thousand shares of common stock repurchased under this authorization during the three and six months ended June 28, 2025, respectively. There was $99.9 million available for future share repurchases under this share repurchase authorization at June 28, 2025. For further information, see Note 16, “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 and six months ended June 28, 2025, we withheld 37 thousand and 49 thousand shares through net share settlements, respectively. For the three and six months ended June 28, 2025, net share settlements cost $3.7 million and $12.4 million, respectively. Please refer to Note 10, “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 June 28, 2025 (in thousands, except per share data):
Period
Total Number
of Shares
Purchased
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)
Mar 30, 2025 to April 29, 2025
14
$
104.96
—
$
99,935
Apr 30, 2025 to May 29, 2025
15
$
98.73
—
$
99,935
May 30, 2025 to Jun 28, 2025
8
$
95.34
—
$
99,935
Three months ended June 28, 2025
37
$
100.35
—
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.