Item 1A. Risk Factors

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Item 1A. Risk Factors

Our risk factors have not changed materially since they were described in our 2020 Annual Report on Form 10-K filed February 25, 2021. Investors should not interpret the disclosure of a risk to imply that the risk has not already materialized.

Cincinnati Financial Corporation Third-Quarter 2021 10-Q

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Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

We did not sell any of our shares that were not registered under the Securities Act during the first nine months of 2021. Our repurchase program does not have an expiration date. On January 26, 2018, an additional 15 million shares were authorized, which expanded our current repurchase program. We have 11,942,698 shares available for purchase under our programs at September 30, 2021.

PeriodTotal number of shares purchasedAverage price paid per shareTotal number of shares purchased as part of publicly announced plans or programsMaximum number of shares that may yet be purchased under the plans or programs
July 1-31, 2021———12,043,152
August 1-31, 2021100,454$119.03100,45411,942,698
September 1-30, 2021———11,942,698
Totals100,454119.03100,454

Cincinnati Financial Corporation Third-Quarter 2021 10-Q

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