Item 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS. (in millions, except share and per share data)
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Item 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS. (in millions, except share and per share data)
| (a) | (b) | (c) | (d) | |||||||||||||||||||||||
| Period | Total Number of Shares Purchased (1) | Average Price Paid Per Share (1) | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (2) | Maximum Dollar Value of Shares that may yet be Purchased under the Plans or Programs (2) | ||||||||||||||||||||||
| January 1, 2025 through January 31, 2025 | 126,000 | $ | 37.15 | 125,721 | $ | 1,749 | ||||||||||||||||||||
| February 1, 2025 through February 28, 2025 | 352,783 | $ | 42.99 | — | $ | 1,749 | ||||||||||||||||||||
| March 1, 2025 through March 31, 2025 | 7,518,898 | $ | 45.75 | 7,509,361 | $ | 1,406 | ||||||||||||||||||||
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(1)The total number of shares purchased (and the average price paid per share) reflects: (i) shares purchased pursuant to the repurchase program described in (2) below; and (ii) shares delivered to the Company from stock awards held by employees upon vesting for the purpose of covering the recipients’ tax withholding obligations, totaling 279 shares, 352,783 shares, and 9,537 shares for the fiscal months of January, February, and March 2025, respectively. Subsequent to the end of the covered period, the Company repurchased 8,150,703 additional shares at an average price of $49.86 per share pursuant to a Rule 10b5-1 plan for a total amount of $2,001 repurchased as of the date of filing under the stock repurchase programs described in (2) below.
(2)In February 2024, the Board of Directors authorized a stock repurchase program to repurchase shares of outstanding common stock to offset the dilutive impact of employee stock award vesting and to provide returns to stockholders, provided that the aggregate value of shares of common stock repurchased does not exceed $1,000. This program has been completed. In October 2024, the Board of Directors authorized an additional $2,000 stock repurchase program to repurchase shares of outstanding common stock. The program will expire after 24 months (in October 2026). The programs will be executed at the Company's discretion. The repurchase programs may be discontinued at any time, and the program does not obligate the Company to acquire any specific number of shares of its common stock or to repurchase the full authorized amount during the authorization period. Consequently, the Board of Directors may revise or terminate such share repurchase authorization in the future.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES.
None.
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