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Issuer Purchases of Equity Securities
−Removed: Effective July 23, 2021, our Board of Directors approved an amendment to the Company’s stock repurchase program originally approved in October 2019 and first amended in March 2020 (“2019 Program”) that increased the amount of our Class A Common Stock that may be repurchased under the 2019 Program from a maximum of $180.0 million to a maximum of $276.5 million and extended the term of the 2019 Program from October 31, 2021, to October 31, 2022.
−Removed: The repurchase authorization under the 2019 Program was substantially exhausted during January 2022.
−Removed: On January 27, 2022, we announced a new stock repurchase program (“2022 Program”) under which we may repurchase up to $175.0 million of our Class A Common Stock currently issued and outstanding.
−Removed: The 2022 Program replaced the 2019 Program.
+Added: On January 27, 2022, we announced a stock repurchase program (“2022 Program”) under which we could repurchase up to $175.0 million of our Class A Common Stock currently issued and outstanding.
Because the 2022 Program was set to terminate on January 31, 2024, the Company’s Board of Directors authorized a new stock repurchase program in January 2024 (“2024 Program”) under which the Company may repurchase up to $175.0 million of its Class A common stock currently issued and outstanding.
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We anticipate funding for the 2024 Program to come from available sources of liquidity, including cash on hand and future cash flow.
−Removed: The Company made no purchases of its common stock during the three months ended December 31, 2023.
−Removed: As of December 31, 2023, the Company had approximately $39.9 million of remaining funds that could have been used to repurchase shares of the Company’s Class A Common Stock under the 2022 Program.
−Removed: The 2024 Program has since replaced the 2022 Program.
Information concerning our repurchases of Class A Common Stock during the quarter ended December 31, 2024 is as follows:
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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.