Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
−Removed: Our common stock is traded on the New York Stock Exchange (“NYSE”) under the symbol “WM.” The number of holders of record of our common stock on February 9, 2022 was 8,099.
+Added: Our common stock is traded on the New York Stock Exchange (“NYSE”) under the symbol “WM.” The number of holders of record of our common stock on January 31, 2023 was 7,847.
The graph below shows the relative investment performance of Waste Management, Inc.
5 unchanged sentences
The Company repurchases shares of its common stock as part of capital allocation programs authorized by our Board of Directors.
−Removed: During 2021, we allocated an aggregate of $1.35 billion in cash under our accelerated share repurchase (“ASR”) agreements.
−Removed: As of December 31, 2021, we had received 8.7 million shares with a weighted average price per share of $146.61.
−Removed: In January 2022, we completed our ASR agreement executed in December 2021, at which time we received an additional 0.4 million shares.
+Added: During 2022, we repurchased an aggregate of $1.5 billion of our common stock under accelerated share repurchase (“ASR”) agreements and open market transactions, which equated to 9.4 million shares with a weighted average price per share of $160.32, inclusive of per-share commissions.
+Added: In addition, in December 2021, we executed an ASR agreement that completed in January 2022, at which time we received 0.4 million shares.
See Note 13 to the Consolidated Financial Statements for additional information.
+Added: We announced in December 2022 that the Board of Directors has authorized up to $1.5 billion in future share repurchases.
+Added: This new authorization replaces our prior $1.5 billion authorization that was fully utilized in 2022.
The following table summarizes common stock repurchases made during the fourth quarter of 2022 (shares in millions):
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December 1 — 31
−Removed: (a) In August 2021, we entered into an ASR agreement to repurchase $500 million of our common stock.
−Removed: At the beginning of the repurchase period, we delivered $500 million in cash and received 2.7 million shares based on a stock price of $147.27.
−Removed: The ASR agreement completed in the fourth quarter of 2021, at which time we received 0.5 million additional shares based on a final weighted average price of $154.72.
−Removed: In December 2021, we executed an ASR agreement to repurchase $350 million of our common stock.
−Removed: At the beginning of the repurchase period, we delivered $350 million in cash and received 1.7 million shares based on a stock price of $160.67.
−Removed: The ASR agreement completed in January 2022, at which time we received 0.4 million additional shares based on a final weighted average price of $160.33.
−Removed: The “Average Price Paid per Share” in the table represents the final weighted average price per share paid for the ASR agreement executed in August 2021 and the initial price per share paid for the ASR agreement executed in December 2021.
−Removed: We announced in December 2021 that the Board of Directors has authorized up to $1.5 billion in future share repurchases.
+Added: (a) In October 2022, we repurchased 125,167 shares of our common stock in open market transactions in compliance with Rule 10b5-1 and Rule 10b-18 of the Exchange Act for $20 million, inclusive of per-share commissions, at a weighted average price of $159.79.
+Added: (b) In November 2022, we delivered $417 million cash and received 2.1 million shares pursuant to an Accelerated Share Repurchase (“ASR”) agreement executed in late October 2022.
+Added: In December 2022, we completed the ASR agreement and received 0.5 million additional shares based on a final weighted average price of $161.19.
+Added: The “Average Price Paid per Share” in the table represents the final weighted average price per share paid for the ASR agreement.
Any future share repurchases will be made at the discretion of management and will depend on various factors including our net earnings, financial condition and cash required for future business plans, growth and acquisitions.
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.