filings.toolsItem 1A. RISK FACTORS
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Item 1A. RISK FACTORS
There were no material changes from the risk factors previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2021.
| ARCH CAPITAL | 58 | 2022 FIRST QUARTER FORM 10-Q |
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
The following table summarizes our purchases of common shares for the 2022 first quarter:
| Issuer Purchases of Equity Securities | ||||||||||||||||||||||||||
| Period | Total Number of Shares Purchased (1) | Average Price Paid per Share | 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 Plan or Programs (2) | ||||||||||||||||||||||
| 1/1/2022-1/31/2022 | 44,275 | $ | 44.89 | 20,586 | $ | 1,181,327 | ||||||||||||||||||||
| 2/1/2022-2/28/2022 | 1,637,495 | 46.47 | 1,317,888 | $ | 1,120,399 | |||||||||||||||||||||
| 3/1/2022-3/31/2022 | 4,336,885 | 45.69 | 4,226,290 | $ | 927,246 | |||||||||||||||||||||
| Total | 6,018,655 | $ | 45.90 | 5,564,764 |
(1)Represents repurchases by Arch Capital of shares, from time to time, from employees in order to facilitate the payment of withholding taxes on restricted shares granted and the exercise of stock appreciation rights. We purchased these shares at their fair value, as determined by reference to the closing price of our common shares on the day the restricted shares vested or the stock appreciation rights were exercised.
(2)Remaining amount available at March 31, 2022 under Arch Capital’s share repurchase authorization, under which repurchases may be effected from time to time in open market or privately negotiated transactions. On October 8, 2021, the board of directors of ACGL increased the aggregate purchase amount authorized under the share repurchase program to $1.5 billion. Repurchases under this authorization may be effected from time to time in open market or privately negotiated transactions through December 31, 2022.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None.
ITEM 4. MINE SAFETY DISCLOSURES
Not applicable.
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