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 2024 Form 10-K and Part II, Item 1A. Risk Factors of our First Quarter Form 10-Q. There have been no material changes to the risk factors previously disclosed in our 2024 Form 10-K and First Quarter Form 10-Q.
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
In January 2025, our Board authorized a $1.0 billion share repurchase program (“January 2025 share repurchase program”), which we expect to complete by December 31, 2025. The timing of share repurchases depends upon marketplace conditions and other factors, and the program remains subject to the discretion of our Board.
Our share repurchase activity for each of the three months in the period ended June 30, 2025, 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 | ||||||||||||||||||||||
| April 1-30, 2025 | 1,714,864 | $ | 57.83 | 1,677,621 | $ | 576,688,888 | ||||||||||||||||||||
| May 1-31, 2025 | 1,385,047 | $ | 58.86 | 1,381,555 | $ | 495,371,436 | ||||||||||||||||||||
| June 1-30, 2025 | 1,609,639 | $ | 59.25 | 1,609,639 | $ | 400,000,010 | ||||||||||||||||||||
| 4,709,550 | $ | 58.62 | 4,668,815 |
(1) The total number of shares purchased includes (a) shares purchased under the January 2025 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 37,243 in April and 3,492 in May).
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