filings.toolsItem 1A. RISK FACTORS
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Item 1A. RISK FACTORS
There have been no material changes to the risk factors described in the section titled “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2025, as filed with the Securities and Exchange Commission (the “SEC”) on August 6, 2025.
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
Below is a summary of the Company’s repurchases of its Class A Common Stock, par value $0.01 per share (the “Class A Common Stock”) during the three months ended September 30, 2025:
| Total number of shares purchased**(a)** | Average price paid per share**(b)** | Approximate dollar value of shares that may yet be purchased under the program**(b)(c)** | |||||||||||||||
| (in millions) | |||||||||||||||||
| July 1, 2025 - July 31, 2025 | 895,441 | $ | 55.84 | ||||||||||||||
| August 1, 2025 - August 31, 2025 | — | — | |||||||||||||||
| September 1, 2025 - September 30, 2025 | 3,340,829 | 59.87 | |||||||||||||||
| Total | 4,236,270 | 59.01 | $ | 5,150 |
| (a) | The Company has not made any purchases of Class A Common Stock or Class B Common Stock, par value $0.01 per share (the “Class B Common Stock” and, together with the Class A Common Stock, the “Common Stock”), other than in connection with the publicly announced stock repurchase program described below. | ||||
| (b) | These amounts exclude any fees, commissions, excise taxes or other costs associated with the share repurchases. | ||||
| (c) | The Company’s Board of Directors (the “Board”) previously authorized a stock repurchase program, under which the Company can repurchase $7 billion of Common Stock. In August 2025, the Board authorized incremental stock repurchases of an additional $5 billion of Common Stock. With this increase, the Company’s total stock repurchase authorization is now $12 billion. The program has no time limit and may be modified, suspended or discontinued at any time. |
In total, the Company repurchased approximately 4 million shares of Class A Common Stock for approximately $250 million during the three months ended September 30, 2025.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
Not applicable.
ITEM 4. MINE SAFETY DISCLOSURES
Not applicable.
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