Unregistered Sales of Equity Securities and Use of Proceeds
−Removed: This table provides information with respect to purchases by the Company of shares of its common stock during the quarter ended September 30, 2021:
+Added: This table provides information with respect to purchases by the Company of shares of its common stock during the quarter ended March 31, 2022:
Period Number of Shares Purchased (1)
3 unchanged sentences
(in millions)
−Removed: July 1, 2021 through July 31, 2021
+Added: January 1, 2022 through January 31, 2022
44 $ 30.39 — $ 98.1
−Removed: August 1, 2021 through August 31, 2021
+Added: February 1, 2022 through February 28, 2022
6,288 $ 29.52 — $ 98.1
−Removed: September 1, 2021 through September 30, 2021
+Added: March 1, 2022 through March 31, 2022
9,309 $ 30.60 — $ 98.1
Total 15,641 —
−Removed: (1) These columns include the following transactions during the three months ended September 30, 2021:
−Removed: (i) the surrender to the Company of 1,562 shares of common stock to satisfy tax withholding obligations in connection with the vesting of restricted stock issued to employees, (ii) the purchase of 1,320 shares of common stock by the Trustee for assets held in a non-qualified employee profit sharing plan trust, and (iii) the purchase of 2,815,307 shares of common stock on the open market as part of our share repurchase program.
−Removed: (2) In October 2020, our Board of Directors authorized a share repurchase program effective October 23, 2020 through December 31, 2021.
−Removed: The share repurchase program authorized the Company to repurchase up to $250.0 million of its common stock.
−Removed: The Company repurchased 2,815,307 shares under the share repurchase program during the three months ended September 30, 2021, at a cost of approximately $77.1 million.
−Removed: The Company completed this share repurchase program in the third quarter of 2021.
+Added: (1) These columns include the following transactions during the three months ended March 31, 2022:
+Added: (i) the surrender to the Company of 6,242 shares of common stock to satisfy tax withholding obligations in connection with the vesting of restricted stock issued to employees, and (ii) the purchase of 9,399 shares of common stock by the Trustee for assets held in a non-qualified employee profit sharing plan trust.
(2) In September 2021, our Board of Directors authorized a new share repurchase program effective September 9, 2021 through December 31, 2022.
The new share repurchase program authorizes the Company to repurchase up to $250.0 million of its common stock.
−Removed: There were no shares repurchased under the new share repurchase program during the three months ended September 30, 2021.
−Removed: The approximate dollar value of shares that were eligible to be repurchased under such share repurchase program is shown as of the end of such month or quarter.
+Added: In December 2021, we entered into an ASR to repurchase $125.0 million of our common stock.
+Added: Approximately 3,311,258 shares repurchased as part of the ASR were delivered to us in January 2022, representing approximately 80% of the total notional value of the ASR.
+Added: The final number of shares to be repurchased will be based on Trinity's volume-weighted average stock price, less a discount, during the term of the ASR, which is expected to be completed during the third quarter of 2022.
+Added: There were no shares repurchased under the share repurchase program during the three months ended March 31, 2022.
+Added: As of March 31, 2022, the Company had a remaining authorization to repurchase up to $98.1 million of its common stock under the share repurchase program.
+Added: Approximately $73.1 million of the share repurchase program will remain after the completion of the ASR.
+Added: The approximate dollar value of shares that were eligible to be repurchased under our share repurchase program is shown as of the end of such month or quarter.
Defaults Upon Senior Securities
2 unchanged sentences
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.