United Parks & Resorts Inc. 10-Q

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds There were no unregistered sales of equity securities during the first quarter of 2022. The following table sets forth information with respect to shares of our common stock purchased by the Company during the periods indicated: Period Beginning Period Ended Total Number of Shares Purchased (1)(2) Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (2) Maximum Number (or Approximate Dollar Value) of Shares that May Yet Be Purchased Under the Plans or Programs (2) January 1, 2022 January 31, 2022 — — — $ 21,845,063 February 1, 2022 February 28, 2022 71,551 $ 70.02 — 21,845,063 March 1, 2022 March 31, 2022 1,575,741 $ 71.48 1,535,427 140,094,818 1,647,292 1,535,427 $ 140,094,818 (1) Except for the 1,535,427 shares of our common stock repurchased as described in footnote (2) below, all other purchases were made pursuant to our Omnibus Incentive Plan, under which participants may satisfy tax withholding obligations incurred upon the vesting of restricted stock by requesting that we withhold shares with a value equal to the amount of the withholding obligation. (2) On March 10, 2022, we announced that our Board of Directors approved a replenishment of $228.2 million to our previously authorized share repurchase program (the “Share Repurchase Program”), bringing the total amount authorized for future share repurchases back up to $250.0 million. Under the Share Repurchase Program, we are authorized to repurchase shares through open market purchases, privately-negotiated transactions or otherwise in accordance with applicable federal securities laws, including through Rule 10b5-1 trading plans and under Rule 10b-18 of the Exchange Act. Pursuant to the Share Repurchase Program, during the quarter ended March 31, 2022, we repurchased a total of 1,535,427 shares of common stock at a total cost of approximately $109.9 million, leaving approximately $140.1 million available under the Share Repurchase Program as of March 31, 2022. All of the common stock is held as treasury shares as of March 31, 2022. The number of shares to be purchased and the timing of purchases will be based on our trading windows and available liquidity, general business and market conditions and other factors, including legal requirements and alternative opportunities. See Note 10–Stockholders’ Deficit in the notes to the unaudited condensed consolidated financial statements included elsewhere in this Quarterly Report on Form 10-Q. Item 3. Defaults Upon Senior Securities None. Item 4. Mine Safety Disclosures Not applicable.