Item 1A. RISK FACTORS

For information regarding factors that could affect the Company's results of operations, financial condition and liquidity, see the risk factors discussed in Part I, Item 1A. "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2021.

Item 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

Issuer Purchases of Equity Securities

The following table provides information about Cigna's share repurchase activity for the quarter ended March 31, 2022:


Period	Total # of shares purchased (1)	Average price paid per share (1)		Total # of shares purchased as part of publicly announced program (2)	Approximate dollar value of shares that may yet be purchased as part of publicly announced program (3)
January 1-31, 2022	2,212,194	$	235.00	2,211,981	$	4,643,127,370
February 1-28, 2022	3,587,937	$	227.40	3,368,771	$	9,877,331,055
March 1-31, 2022	299,880	$	236.26	202,830	$	9,829,417,680
Total	6,100,011	$	230.59	5,783,582	N/A

*(1)*Includes shares tendered by employees under the Company's equity compensation plans as follows: 1) payment of taxes on vesting of restricted stock (grants and units) and strategic performance shares and 2) payment of the exercise price and taxes for certain stock options exercised. Employees tendered 213 shares in January, 219,166 shares in February and 97,050 shares in March 2022.

*(2)*Additionally, the Company maintains a share repurchase program authorized by the Board of Directors. Under this program, the Company may repurchase shares from time to time, depending on market conditions and alternate uses of capital. The timing and actual number of shares repurchased will depend on a variety of factors, including price, general business and market conditions and alternate uses of capital. The share repurchase program may be effected through Rule 10b5-1 plans, open market purchases, each in compliance with Rule 10b-18 under the Exchange Act, or privately negotiated transactions. The program may be suspended or discontinued at any time and does not have an expiration date. In February 2022, the Board increased repurchase authority by an additional $6.0 billion. From April 1, 2022 through May 5, 2022, the Company repurchased 1.9 million shares for approximately $470 million. Share repurchase authority was $9.4 billion as of May 5, 2022.

*(3)*Approximate dollar value of shares is as of the last date of the applicable month.

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