filings.toolsItem 1A. Risk Factors.
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Item 1A. Risk Factors.
Information regarding Risk Factors appears in “MD&A – Cautionary Factors That May Affect Future Results,” in Part I – Item 2 of this Form 10-Q and in Part I – Item 1A. Risk Factors of our Annual Report on Form 10-K for the year ended December 31, 2023.
Item 2.Unregistered Sales of Equity Securities and Use of Proceeds
Our share repurchase activity for each of the three months in the quarter ended March 31, 2024, was as follows:
| Period | Total Number of Shares Repurchased | 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 | ||||||||||||||||||||||
| January 1, 2024 – January 31, 2024 (1) | — | $ | — | 10,481,359 | $ | 6,016,847,275 | ||||||||||||||||||||
| February 1, 2024 – February 29, 2024 (1) | — | $ | — | 10,481,359 | $ | 6,016,847,275 | ||||||||||||||||||||
| March 1, 2024 – March 31, 2024 (1) | — | $ | — | 10,481,359 | $ | 6,016,847,275 | ||||||||||||||||||||
| Pursuant to Publicly Announced Plans or Programs | — | $ | — | |||||||||||||||||||||||
| January 1, 2024 – January 31, 2024 (2) | 10,122 | $ | 94.05 | |||||||||||||||||||||||
| February 1, 2024 – February 29, 2024 (2) | 314,962 | $ | 90.07 | |||||||||||||||||||||||
| March 1, 2024 – March 31, 2024 (2) | 2,307 | $ | 90.99 | |||||||||||||||||||||||
| For the Quarter Ended March 31, 2024 | 327,391 | $ | 90.20 |
(1)On June 11, 2021, our Board of Directors authorized a new share repurchase program of up to $7 billion, with target spending of $5 billion to $7 billion over a three-year period that commenced in July 2021. These share repurchases have been made pursuant to the $7 billion program. On May 11, 2022, we announced the suspension of our three-year share repurchase program following the recommended public offer to acquire the outstanding shares of Swedish Match from its shareholders.
(2)Shares repurchased represent shares tendered to us by employees who vested in restricted and performance share unit awards and used shares to pay all, or a portion of, the related taxes.
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