6 unchanged sentences
In addition to the above incentive plans, United is occasionally involved in certain mergers in which additional shares could be issued and recognizes that additional shares could be issued for other appropriate purposes.
−Removed: In November of 2018, United’s Board of Directors approved a stock repurchase plan, whereby United could buy up to 3,352,000 shares of the Company’s common stock on the open market at prevailing prices through November 7, 2019.
−Removed: United repurchased 1,879,150 under this plan prior to its expiration.
−Removed: The Board of Directors approved a new plan in October of 2019 to repurchase up to 4,000,000 shares of the Company’s common stock on the open market at prevailing prices.
−Removed: During 2021 and 2020, United repurchased 306,204 and 660,000 shares, respectively, under this repurchase plan.
+Added: In October of 2019, United’s Board of Directors approved a stock repurchase plan (the “2019 Plan”) to repurchase up to 4,000,000 shares of the Company’s common stock on the open market at prevailing prices.
+Added: United repurchased 2,846,989 shares under this plan.
+Added: On May 11, 2022, the Board of Directors approved a new repurchase plan (the “2022 Plan”) to repurchase up to 4,750,000 shares of United’s common stock on the open market.
+Added: The 2022 Plan replaced the 2019 Plan.
+Added: During 2022, United repurchased 378,761 shares under the 2022 Plan.
As of December 31, 2022, United still has 4,371,239 shares available for repurchase under the 2022 Plan.
23 unchanged sentences
NASDAQ Bank Index
+Added: S&P Mid-Cap Index
Issuer Repurchases
11 unchanged sentences
12/01 – 12/31/2022
−Removed: Includes shares exchanged in connection with the exercise of stock options under United’s stock option plans.
−Removed: Shares are purchased pursuant to the terms of the applicable stock option plan and not pursuant to a publicly announced stock repurchase plan.
−Removed: For the quarter ended December 31, 2021, no shares were exchanged by participants in United’s stock option plans.
+Added: Includes shares exchanged in connection with the exercise of stock options or the vesting of restricted stock under United’s long-term incentive plans.
+Added: Shares are purchased pursuant to the terms of the applicable plan and not pursuant to a publicly announced stock repurchase plan.
+Added: For the quarter ended December 31, 2022 – no shares were exchanged by participants in United’s long-term incentive plans.
Includes shares purchased in open market transactions by United for a rabbi trust to provide payment of benefits under a deferred compensation plan for certain key officers of United and its subsidiaries.
For the quarter ended December 31, 2022, the following shares were purchased for the deferred compensation plan:
−Removed: November 2021 –4 shares at an average price of $36.70.
−Removed: In October of 2019, United’s Board of Directors approved a repurchase plan to repurchase up to 4,000,000 shares of United’s common stock on the open market (the 2019 Plan).
+Added: December 2022 – 5 shares at an average price of $42.82.
+Added: In May of 2022, United’s Board of Directors approved a new repurchase plan to repurchase up to 4,750,000 shares of United’s common stock on the open market (the “2022 Plan”).
The timing, price and quantity of purchases under the plans are at the discretion of management and the plan may be discontinued, suspended or restarted at any time depending on the facts and circumstances.
+Added: The 2022 Plan replaces a repurchase plan approved by United’s Board of Directors in October of 2019.
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.