Item 2. Unregistered Sales of Equity Securities
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
The Company repurchased shares of its common stock in the open market during the nine months ended September 30, 2026 as follows:
Total Number of Approximate Dollar Value
Shares Purchased as Part of Shares That May Yet
Total Number of Average Price Paid of Publicly Announced Be Purchased Under the
Shares Purchased per Share(1)
Plans or Programs(2)
Plans or Programs(1)(2)
Total first quarter 2026 770,423 $ 96.82 770,423 $ 125,410,091
Total second quarter 2026 239,348 $ 97.63 239,348 $ 102,043,593
July 2026 181,932 $ 98.81 181,932 $ 84,066,286
August 2026 355,265 98.58 355,265 49,043,693
September 2026 514,463 95.24 514,463 43,976
Total third quarter 2026 1,051,660 $ 96.99 1,051,660 $ 43,976
Total 2026 2,061,431 $ 97.00 2,061,431 $ 43,976
(1) The approximate dollar value of shares that may yet be purchased under the plans or programs and average price paid per share do not include the effect of excise tax expense incurred on net stock repurchases.
(2) Effective December 12, 2025, the Company’s board of directors authorized a share repurchase program under which the Company may repurchase up to $200.0 million in shares of its outstanding common stock, excluding the effect of excise tax expense incurred on the net stock repurchases. Any repurchases under the repurchase program will be made in accordance with applicable securities laws from time to time in open market or private transactions. The share repurchase program will expire on December 31, 2026, but may be suspended or discontinued at any time.
Effective October 20, 2026, the Company’s board of directors authorized a new share repurchase program under which the Company may repurchase up to $200.0 million in shares of its outstanding common stock, excluding the effect of excise tax expense incurred on the net stock repurchases. The share repurchase program will expire on October 31, 2027, but may be suspended or discontinued at any time. The remaining repurchase authorization under the December 12, 2025 share repurchase program was terminated upon authorization of this new program.
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