filings.toolsItem 1A. Risk Factors
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Item 1A. Risk Factors
Information regarding Risk Factors appears in Part I, Item 1A. Risk Factors of our 2023 Form 10-K. There have been no material changes to the risk factors previously disclosed in our 2023 Form 10-K.
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
In January 2024, our Board of Directors authorized a $1.0 billion share repurchase program that it increased to $3.4 billion in March 2024 (as increased, “January 2024 share repurchase program”). We expect to complete the program by December 31, 2024. The timing of share repurchases depends upon marketplace conditions and other factors, and the program remains subject to the discretion of our Board of Directors.
Our share repurchase activity for each of the three months in the period ended September 30, 2024, was as follows:
| 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 Plans or Programs | ||||||||||||||||||||||
| July 1-31, 2024 | 4,813,800 | 48.05 | 4,813,800 | 758,711,760 | ||||||||||||||||||||||
| August 1-31, 2024 | 4,694,454 | 51.07 | 4,692,500 | 519,053,962 | ||||||||||||||||||||||
| September 1-30, 2024 | 4,003,761 | 52.34 | 4,003,000 | 309,534,422 | ||||||||||||||||||||||
| 13,512,015 | 50.37 | 13,509,300 |
(1) The total number of shares purchased includes (a) shares purchased under the January 2024 share repurchase program and (b) shares withheld by Altria in an amount equal to the statutory withholding taxes for vested stock-based awards previously granted to eligible employees (which totaled 1,954 in August and 761 in September).
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