Block, Inc. 10-Q

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds Issuer Purchases of Equity Securities In October 2023, the Company's board of directors authorized the repurchase of up to $1 billion of the Company’s Class A common stock. On July 25, 2024, the Company's board of directors authorized an increase to the Company's share repurchase program to repurchase up to an additional $3 billion of the Company’s Class A common stock, for a total overall authorization of $4 billion. Repurchases may be made from time to time through open market purchases or through privately negotiated transactions subject to market conditions, applicable legal requirements and other relevant factors. The repurchase program does not obligate the Company to acquire any particular amount of its Class A common stock and may be suspended at any time at the Company’s discretion. The timing and number of shares repurchased will depend on a variety of factors, including the stock price, business and market conditions, corporate and regulatory requirements, alternative investment opportunities, acquisition opportunities, and other factors. The following table summarizes the share repurchase activity for the three months ended March 31, 2025 (in thousands, except per share amounts): Period Total Number of Shares Purchased Average price paid per share (i) Total number of shares purchased as part of publicly announced plans or programs Approximate dollar value of shares that may yet be purchased under the plans or programs January 1, 2025 - January 31, 2025 576 $ 87.52 576 $ 2,622,439 February 1, 2025 - February 28, 2025 3,502 $ 67.02 3,502 $ 2,387,727 March 1, 2025 - March 31, 2025 2,727 $ 58.74 2,727 $ 2,227,551 Total 6,805 6,805 (i) Average price paid per share for open market purchases includes broker commissions. Item 3. Defaults Upon Senior Securities Not applicable. Item 4. Mine Safety Disclosures Not applicable. 89