11 unchanged sentences
Plans or Programs
−Removed: April 11,395 $ 137.02 833,422 24,166,578
−Removed: May - prior authorization 9,321 131.48 842,743 —
−Removed: May - current authorization 13,816 132.32 13,816 24,986,184
−Removed: June 21,351 130.48 35,167 24,964,833
+Added: July 208,955 $ 123.14 244,122 24,755,878
+Added: August 46,822 130.01 290,944 24,709,056
+Added: September 56,408 139.96 347,352 24,652,648
Total 312,185 $ 127.21
In May 2023, the Board of Directors approved an authorization for the Company to repurchase up to 25 million of its common shares.
−Removed: This authorization, which does not have an expiration date, terminated the 24,157,257 shares that remained under the Board’s May 2022 authorization to repurchase 25 million shares.
+Added: This authorization does not have an expiration date.
Share repurchases under this authorization may be accomplished through open market purchases, including trading plans entered into with one or more brokerage firms in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934, through privately negotiated transactions, pursuant to our equity incentive awards, or otherwise.
−Removed: During the second quarter 2023, all repurchases were accomplished in conjunction with our equity incentive awards or through the open market at the then-current market prices.
−Removed: Progressive’s financial policies state that we will repurchase shares to neutralize dilution from equity-based compensation in the year of issuance and as an option to effectively use underleveraged capital.
+Added: During the third quarter 2023, all repurchases were accomplished in conjunction with our equity incentive awards or through the open market at the then-current market prices.
+Added: Progressive’s financial policies state that we will repurchase shares to neutralize dilution from equity-based compensation in the year of issuance and as an option to effectively use under-leveraged capital.
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.