Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Unregistered Sales of Equity Securities
None.
Issuer Purchases of Equity Securities
On August 6, 2020, the Board approved a program authorizing the repurchase of up to ten million shares of our common stock through August 6, 2025 (the “2020 Program”). In connection with the authorization, the Company entered into certain Rule 10b5-1 trading plans with a broker-dealer to facilitate the repurchase program. During the three months March 31, 2023, zero shares were repurchased under the 2020 Program.
Cumulatively, as of March 31, 2023, the Company repurchased 3,672,846 shares at an aggregate cost of $296.9 million (including an immaterial amount of commission fees) under the 2020 Program, which were subsequently retired. See Note 10 - Stockholders’ Equity in Item 1 of Part I of this Quarterly Report on Form 10-Q, which is incorporated by reference into this Item 1of Part II.
As a result of the Company’s share repurchases, the number of shares of the Company’s common stock available for purchase under the 2020 Program is 6,327,154 shares.
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The following table details the repurchases that were made under and outside the 2020 Program during the three months ended March 31, 2023:
Period Total Number of Shares
Purchased (1)
Average Price
Paid Per Share Total Number of
Shares Purchased as Part of Publicly
Announced Plans or Program Maximum Number of Shares That May Yet Be
Purchased Under the Plans or Program (2)
January 1, 2023 - January 31, 2023 14,021 $ 79.40 — 6,327,154
February 1, 2023 - February 28, 2023 246 $ 93.51 — 6,327,154
March 1, 2023 - March 31, 2023 22,385 $ 77.85 — 6,327,154
Total 36,652 — 6,327,154
(1) Consists of shares surrendered to the Company to pay the exercise price and/or to satisfy tax withholding obligations in connection with employee stock options and/or the vesting of restricted stock issued to employees.
(2) As of the last day of the applicable month .
Item 3. Defaults Upon Senior Securities
None.
Item 4. Mine Safety Disclosures
Not Applicable.
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