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 June 30, 2023, 980,418 shares were repurchased under the 2020 Program.
Cumulatively, as of June 30, 2023, the Company repurchased 4,653,264 shares, under the 2020 Program, at an aggregate cost of $360.8 million (including excise tax), 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, as of June 30, 2023, the number of shares of the Company’s common stock available for purchase under the 2020 Program was 5,346,736 shares.
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The following table details the repurchases that were made under and outside the 2020 Program, on a trade date basis, during the three months ended June 30, 2023:
Period Total Number of Shares
Purchased (1)
Average Price
Paid Per Share (2)
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 (3)
April 1, 2023 - April 30, 2023 534 $ 67.73 — 6,327,154
May 1, 2023 - May 31, 2023 375,221 $ 62.00 370,532 5,956,622
June 1, 2023 - June 30, 2023 609,886 $ 66.11 609,886 5,346,736
Total 985,641 980,418 5,346,736
(1) Includes 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) Excludes the impact of excise taxes.
(3) 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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