−Removed: Unregistered Sales of Equi ty Securities and Use of Proceeds
−Removed: Following the Merger, the Company assumed the share repurchase authorization previously approved by the former Nanometrics Board of Directors, that was announced on May 1, 2019.
−Removed: This share repurchase authorization allows for the Company to purchase up to $80.0 million worth of shares of its common stock.
−Removed: Under the terms of this share repurchase authorization, shares may be repurchased through open market or privately negotiated transactions with no specified end date.
−Removed: During the three and nine months ended September 26, 2020, we repurchased 0 and 1.9 million shares of common stock under this repurchase authorization.
−Removed: At September 26, 2020, there was $28.0 million available for future share repurchases.
−Removed: For further information, see Note 2, “Business Combinations” and Note 17, “Share Repurchase Authorization” in the accompanying Notes to the Condensed Consolidated Financial Statements.
+Added: Unregistered Sales of Equity Securities and Use of Proceeds
+Added: In November 2020, the Onto Innovation Board of Directors approved a new share repurchase authorization, which allows the Company to repurchase up to $100 million worth of shares of its common stock.
+Added: Repurchases may be made through both public market and private transactions from time to time with shares purchased being subsequently retired.
+Added: At March 27, 2021, there was $100 million available for future share repurchases under the share repurchase authorization.
+Added: For further information, see Note 16, “Share Repurchase Authorization” in the accompanying Notes to the Condensed Consolidated Financial Statements.
In addition to our share repurchase program, we withhold shares of common stock 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 26, 2020, we withheld 8 thousand and 106 thousand shares through net share settlements.
−Removed: For the three and nine months ended September 26, 2020, net share settlements cost $0.3 million and $3.5 million, respectively.
+Added: During the three months ended March 27, 2021, we withheld 41 thousand shares through net share settlements.
+Added: For the three months ended March 27, 2021, net share settlements cost $2.5 million.
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.
−Removed: The following table provides details of common stock purchased during the three months ended September 26, 2020 (in thousands, except per share data):
+Added: The following table provides details of common stock purchased during the three months ended March 27, 2021 (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: June 28, 2020 - July 27, 2020
−Removed: July 28, 2020 - August 27, 2020
−Removed: August 28, 2020 - September 26, 2020
−Removed: Three months ended September 26, 2020
+Added: December 27, 2020 - January 26, 2021
+Added: January 27, 2021 - February 26, 2021
+Added: February 27, 2021 - March 27, 2021
+Added: Three months ended March 27, 2021
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.