Item 2. Unregistered Sales of Equity Securities
Item 2 – Unregistered Sales of Equity Securities and Use of Proceeds
Below is a summary by month of share purchase by the Company during the first quarter of 2022:
Month
Total Number
of Shares Purchased
Average Price
Paid per Share
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (1)
Approximate Dollar Value of Shares That May Yet be Purchased Under the Plans or Programs (1)
January 2022
470
(2)
$
125.20
—
150,000,000
February 2022
26,978
(3)
$
105.93
19,106
(4)
148,000,356
March 2022
87,985
(5)
$
100.52
79,100
(4)
140,065,014
Total
115,433
$
101.89
98,206
140,065,014
(1)
On October 20, 2021, the Company announced that its Board of Directors had authorized the Company to repurchase up to $150,000,000 of its outstanding common stock. Under this program, which does not have an expiration date, repurchases may be made from time to time through open market transactions, privately negotiated transactions or a combination of the foregoing, subject to applicable laws. The program authorization supersedes the Company’s prior share repurchase authorization.
(2)
Represents shares of Company common stock tendered by employees to settle statutory withholding taxes related to the exercise of SARs.
(3)
Includes 7,777 and 94 shares of Company common stock tendered by employees to settle statutory withholding taxes related to the distribution of deferred performance stock awards and the distribution of deferred management incentive compensation, respectively.
(4)
Represents shares of Company common stock purchased on the open market.
(5)
Includes 8,765 and 120 shares of Company common stock tendered by employees to settle statutory withholding taxes related to the distribution of performance stock awards and the exercise of SARs, respectively.
Item 3 – Defaults Upon Senior Securities
None
Item 4 – Mine Safety Disclosures
Not applicable
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