Item 1A. Risk factors

For a discussion of our risk factors, see Part I, Item 1A - Risk Factors of our Annual Report on Form 10-K for the year ended December 31, 2022.

Item 2. Unregistered sales of equity securities and use of proceeds

Issuer Purchases of Equity Securities

During the second quarter of 2023, we repurchased 6.5 million shares for $2.4 billion at an average price of $373.52 per share of Class A common stock. The following table presents our repurchase activity on a cash basis during the second quarter of 2023:


Period	Total Number of Shares Purchased	Average Price Paid per Share (including commission cost)		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	Dollar Value of Shares that may yet be Purchased under the Plans or Programs 1, 2
April 1 - 30	2,070,540	$	367.29	2,070,540	$	8,535,407,807
May 1 - 31	2,250,153	$	379.19	2,250,153	$	7,682,181,892
June 1 - 30	2,148,089	$	373.59	2,148,089	$	6,879,666,632
Total	6,468,782	$	373.52	6,468,782

1 Dollar value of shares that may yet be purchased under the repurchase programs is as of the end of the period.

2 In December 2022 and November 2021, our Board of Directors approved share repurchase programs of our Class A common stock authorizing us to repurchase up to $9.0 billion and $8.0 billion, respectively.

50 MASTERCARD JUNE 30, 2023 FORM 10-Q

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