8 unchanged sentences
The executive officers are elected by the Board of Directors normally for a term of one year and until the election of their successors.
−Removed: All executive officers have been employed by Timken or by a subsidiary of the Company during the past five-year period.
+Added: All executive officers have been employed by Timken during the past five-year period.
The executive officers of the Company as of February 15, 2022 are as follows:
7 unchanged sentences
2014 Vice President - Power Transmission and Engineering Systems
−Removed: Myers 62 2017 Executive Vice President - Human Resources
−Removed: 2015 Vice President of Human Resources
Patel 41 2019 Vice President, General Counsel and Secretary
3 unchanged sentences
Corporate Secretary
−Removed: 2014 Senior Corporate Attorney, Securities and Finance
Andreas Roellgen 54 2016 Vice President - Europe, Asia and Africa
−Removed: 2014 Vice President - Process Industries and Managing Director, Europe
Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
18 unchanged sentences
Total 504,221 $ 72.88 500,000 —
−Removed: (1) Of the shares purchased in October, November and December, 518, 58,350 and 486 respectively, represent common shares of the Company that were owned and tendered by employees to exercise stock options, and to satisfy withholding obligations in connection with the exercise of stock options and vesting of restricted shares.
+Added: (1) Of the shares purchased in November and December, 2,262 and 1,959 respectively, represent common shares of the Company that were owned and tendered by employees to exercise stock options, and to satisfy withholding obligations in connection with the exercise of stock options and vesting of restricted shares.
(2) For shares tendered in connection with the vesting of restricted shares, the average price paid per share is an average calculated using the daily high and low of the Company’s common shares as quoted on the New York Stock Exchange at the time of vesting.
For shares tendered in connection with the exercise of stock options, the price paid is the real-time trading share price at the time the options are exercised.
−Removed: (3) On February 6, 2017, the Company's Board of Directors approved a share repurchase plan pursuant to which the Company may purchase up to ten million of its common shares, in the aggregate.
−Removed: This share purchase plan expires on February 28, 2021.
−Removed: Under this plan the Company purchased shares from time to time in open market purchases or privately negotiated transactio ns and was able to make all or part of the purchases pursuant to accelerated share repurchases or Rule 10b5-1 plans.
(3) On February 12, 2021, the Company's Board of Directors approved a new share repurchase plan, effective March 1, 2021, pursuant to which the Company may purchase up to ten million of its common shares, in the aggregate.
This share purchase plan expires on February 28, 2026.
+Added: Under this plan, the Company may purchase shares from time to time in open market purchases or privately negotiated transactio n, and it may make all or part of the purchases pursuant to accelerated share repurchases or Rule 10b5-1 plans.
+Added: The previous share purchase plan expired on February 28, 2021.
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.