Item 2. Unregistered Sales of Equity Securities
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
The following table presents the total number of shares of our common stock that we repurchased during the first quarter of 2025, the average price paid per share, the number of shares that we repurchased as part of our share repurchase program, and the approximate dollar value of shares that still could have been repurchased at the end of the applicable fiscal period pursuant to our share repurchase program:
(dollars in millions, except per share data) Total Number of Shares Purchased (1)
Average Price Paid Per Share Total Number of Shares Purchased as Part of Publicly Announced Program (2)
Maximum Dollar Value of Shares that May Yet Be Purchased Under the Plans or Program (2)
January 1, 2025 - January 31, 2025 — $ — — $ 749.5
February 1, 2025 - February 28, 2025 — $ — — $ 749.5
March 1, 2025 - March 31, 2025 1,497,039 $ 17.63 1,413,882 $ 724.6
(1) Includes 83,157 shares withheld to pay taxes due upon the vesting of employee restricted stock for the month ended March 31, 2025.
(2) On February 1, 2022, our Board of Directors authorized the February 2022 Authorization for the repurchase of up to $750.0 million of our common stock from time to time on the open market or in privately negotiated transactions. The February 2022 Authorization was completed on June 15, 2023 and expired on January 31, 2025. On December 6, 2022, our Board of Directors authorized the December 2022 Authorization for the repurchase of an additional $750.0 million of our common stock from time to time on the open market or in privately negotiated transactions. The December 2022 Authorization expires on December 31, 2025. We initiated share repurchases under the December 2022 Authorization in 2023. Stock repurchases are funded using our available liquidity. The timing and amount of stock repurchases will depend on a variety of factors, including market conditions as well as corporate and regulatory considerations.
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