1 unchanged sentence
I n 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: Repurchases may be made through both public market and private transactions from time to time with shares purchased being subsequently retired.
−Removed: At July 2, 2022, there was $100 million available for future share repurchases .
+Added: During the three and nine months ended October 1, 2022, we repurchased 0.2 million shares of common stock under this repurchase authorization and those shares were subsequently retired.
+Added: At October 1, 2022, there was $88.5 million available for future share repurchases under this share repurchase authorization .
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 and stock option exercises under the Company’s equity incentive program.
−Removed: During the three and six months ended July 2, 2022, we withheld 40 thousand and 100 thousand shares through net share settlements.
−Removed: For the three and six month periods ended July 2, 2022, net share settlements cost $3.0 million and $8.3 million, respectively.
+Added: During the three and nine months ended October 1, 2022, we withheld 3 thousand and 103 thousand shares through net share settlements.
+Added: For the three and nine month periods ended October 1, 2022, net share settlements cost $0.2 million and $8.6 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.
−Removed: The following table provides details of common stock purchased during the three months ended July 2, 2022 (in thousands, except per share data):
+Added: The following table provides details of common stock purchased during the three months ended October 1, 2022 (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: April 3, 2022 - May 2, 2022
−Removed: May 3, 2022 - June 2, 2022
−Removed: June 3, 2022 - July 2, 2022
−Removed: Three months ended July 2, 2022
+Added: July 3, 2022 - August 1, 2022
+Added: August 2, 2022 - September 1, 2022
+Added: September 2, 2022 - October 1, 2022
+Added: Three months ended October 1, 2022
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.