3 unchanged sentences
Purchases of Equity Securities
−Removed: During the three months ended March 31, 2024, repurchases made pursuant to our stock repurchase program were as follows:
+Added: During the six months ended June 30, 2024, repurchases made pursuant to our stock repurchase program were as follows:
Period Total number of shares purchased (1)
Weighted average price paid per share (2)
−Removed: Total number of shares purchased as part of publicly announced plans or programs Maximum number (or approximate dollar value) of common shares that may yet be purchased under the plans or programs
+Added: Total number of shares purchased as part of publicly announced plans or programs (3)
+Added: Maximum number (or approximate dollar value) of common shares that may yet be purchased under the plans or programs
(in millions) (3)
2 unchanged sentences
March 1, 2024 through March 31, 2024 — $ — — $ 150
+Added: April 1, 2024 through April 30, 2024 106 $ 17.12 — $ 150
+Added: May 1, 2024 through May 31, 2024 1,483 $ 15.95 — $ 150
+Added: June 1, 2024 through June 30, 2024 1,663,340 $ 15.01 1,662,959 $ 125
Total 1,827,468 1,662,959
_____________________________________
−Removed: (1) The number of shares purchased represents shares of common stock surrendered by certain of our employees to satisfy their federal and state tax obligations associated with the vesting of restricted common stock.
+Added: (1) The number of shares purchased represents shares of common stock repurchased under the applicable previously announced stock repurchase program as well as 164,509 shares of common stock surrendered by certain of our employees to satisfy their federal and state tax obligations associated with the vesting of restricted common stock.
(2) The weighted average price paid per share for shares of common stock surrendered by certain employees is based on the closing price of our common stock on the trading date immediately prior to the date of delivery of the shares.
+Added: The weighted average price paid per share for shares repurchased excludes commissions paid.
(3) On February 17, 2023, our Board of Directors authorized and approved a $300 million stock repurchase program, which expires on February 21, 2025.
1 unchanged sentence
In June 2023, we ceased making debt service payments toward the SF Mortgage Loan, and we have received a notice of default from the servicer.
−Removed: As of May 1, 2024, the total arrearage related to the SF Mortgage Loan, including interest and fees was $54 million, of which $24 million is default interest.
+Added: As of August 1, 2024, the total arrearage related to the SF Mortgage Loan, including interest and fees was $69 million, of which $31 million is default interest.
In October 2023, the trustee for the SF Mortgage Loan filed a lawsuit against the borrowers under the SF Mortgage Loan.
In connection with the lawsuit, the court has appointed a receiver to take control of the Hilton San Francisco Hotels, which serve as security for the SF Mortgage Loan, and their operations, and thus, we have no further economic interest in the operations of the hotels.
−Removed: The receiver will operate and has authority over the hotels and, until no later than November 1, 2024, has the ability to sell the hotels.
−Removed: The lawsuit contemplates the receivership will end with a non-judicial foreclosure by December 2, 2024, if the hotels are not sold within the predetermined sale period.
+Added: The receiver will operate and has authority over the hotels and, until no later than March 31, 2025, has the ability to sell the hotels.
+Added: The lawsuit contemplates the receivership will end with a non-judicial foreclosure by July 15, 2025, if the hotels are not sold within the predetermined sale period.
Mine Safety Disclosures.
1 unchanged sentence
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.