Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Share repurchases are made from time to time in the open market or through privately negotiated transactions. On February 11, 2025, the Board of Directors authorized the repurchase of 2,000,000 shares of our common stock. On April 29, 2026, the Board of Directors authorized the repurchase of an additional 2,000,000 shares of our common stock. Under the 2025 and 2026 share repurchase programs, 564,293 and 2,000,000 shares remain authorized, respectively.
For the Quarter Ended
June 30, 2026 Total Number of Shares
Purchased (1)
Average Price Paid
Per Share (2)
Total Number of Shares Purchased as Part of
Publicly Announced Plans or
Programs Maximum Number of Shares that May Yet Be
Purchased Under the Plans or
Programs
April 1-30, 2026 2,459 $ 78.81 — 2,564,293
May 1-31, 2026 2,755 $ 86.50 — 2,564,293
June 1-30, 2026 301 $ 84.01 — 2,564,293
Total 5,515 $ 82.94 — 2,564,293
(1) The total number of shares purchased includes 3,059 shares withheld to cover withholding taxes related to the exercise of stock options and the vesting of restricted stock under employee share-based compensation plans and 2,456 shares acquired in connection with a swap option transaction.
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(2) The Inflation Reduction Act of 2022, which was enacted into law on August 16, 2022, imposes a nondeductible 1% excise tax on the net value of certain stock repurchases made after December 31, 2022. During the three months ended June 30, 2026, the Company reflected the applicable excise tax in treasury stock as part of the cost basis of the stock repurchased and recorded a corresponding liability for the excise taxes payable in other current liabilities on the consolidated balance sheets. All dollar amounts presented exclude such excise taxes.
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.