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 March 31, 2022:
+Added: This table provides information with respect to purchases by the Company of shares of its common stock during the quarter ended June 30, 2022:
Period Number of Shares Purchased (1)
3 unchanged sentences
(in millions)
−Removed: January 1, 2022 through January 31, 2022
+Added: April 1, 2022 through April 30, 2022
811,368 $ 32.58 810,602 $ 71.7
−Removed: February 1, 2022 through February 28, 2022
+Added: May 1, 2022 through May 31, 2022
625,167 $ 25.91 410,000 $ 60.8
−Removed: March 1, 2022 through March 31, 2022
+Added: June 1, 2022 through June 30, 2022
541,249 $ 24.09 539,860 $ 47.8
Total 1,977,784 1,760,462
−Removed: (1) These columns include the following transactions during the three months ended March 31, 2022:
−Removed: (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.
+Added: (1) These columns include the following transactions during the three months ended June 30, 2022:
+Added: (i) the surrender to the Company of 216,912 shares of common stock to satisfy tax withholding obligations in connection with the vesting of restricted stock issued to employees, (ii) the purchase of 410 shares of common stock by the Trustee for assets held in a non-qualified employee profit sharing plan trust, and (iii) the purchase of 1,760,462 shares of common stock on the open market as part of our share repurchase program, of which 760,602 shares of common stock were purchased as part of the final settlement of the accelerated share repurchase agreement (the "ASR") as further described below.
(2) In September 2021, our Board of Directors authorized a new share repurchase program effective September 9, 2021 through December 31, 2022.
2 unchanged sentences
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.
−Removed: 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.
−Removed: There were no shares repurchased under the share repurchase program during the three months ended March 31, 2022.
−Removed: 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.
−Removed: Approximately $73.1 million of the share repurchase program will remain after the completion of the ASR.
−Removed: 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.
+Added: The ASR was completed in April 2022.
+Added: Shares repurchased during the three months ended June 30, 2022 totaled 1,760,462 shares, at a cost of approximately $50.3 million, which included 760,602 shares, at a cost of $25.0 million, representing the final settlement of the ASR.
+Added: As of June 30, 2022, the Company had a remaining authorization to repurchase up to $47.8 million of its common stock under the share repurchase program.
+Added: Certain shares of stock repurchased during June 2022, totaling $2.9 million, were cash settled in July 2022 in accordance with normal settlement practices.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.