Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

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Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

The following table presents the number and average price of shares purchased during the three months ended June 30, 2025:


Period	Total Number of Shares Purchased (1)	Average Price Paid per Share		Total Number of Shares Purchased as Part of Publicly Announced Program (2)	Maximum Dollar Value of Shares that May be Repurchased Under the Program
April 1, 2025 — April 30, 2025	187	$	57.62	—	$	2,000,000,000
May 1, 2025 — May 31, 2025	291	$	57.15	—	$	2,000,000,000
June 1, 2025 — June 30, 2025	363	$	56.82	—	$	2,000,000,000
Total	841	$	57.11	—

(1)All 841 shares of common stock purchased during the three months ended June 30, 2025 were withheld for state and federal payroll taxes on the vesting of employee stock awards, as permitted under the Realty Income 2021 Incentive Award Plan. The withholding of common stock by us could be deemed a purchase of such common stock.

(2)In February 2025, our Board of Directors authorized a share repurchase program for up to $2.0 billion in shares of our common stock, which will expire in January 2028.

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