filings.toolsItem 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
Unregistered Sales of Equity Securities
None.
102 The PNC Financial Services Group, Inc. – Form 10-Q
Equity Security Repurchases
Details of our repurchases of PNC common stock during the third quarter of 2024 are included in the following table:
| 2024 period In thousands, except per share data | Total shares purchased (a) | Average price paid per share | Total shares purchased as part of publicly announced programs (b) | Maximum number of shares that may yet be purchased under the programs (b) | ||||||||||
| July 1 – 31 | 197 | $ | 163.29 | 191 | 43,193 | |||||||||
| August 1 – 31 | 320 | $ | 172.84 | 309 | 42,884 | |||||||||
| September 1 – 30 | 222 | $ | 181.77 | 222 | 42,662 | |||||||||
| Total | 739 | $ | 175.73 | 722 |
(a)Includes PNC common stock purchased in connection with our various employee benefit plans generally related to forfeitures of unvested restricted stock awards and shares used to cover employee payroll tax withholding requirements. See Note 16 Employee Benefit Plans and Note 17 Stock Based Compensation Plans in our 2023 Form 10-K, which include additional information regarding our employee benefit and equity compensation plans that use PNC common stock.
(b)Consistent with the SCB framework, which allows for capital return in amounts in excess of the SCB minimum levels, our Board of Directors has authorized a repurchase framework under the previously approved repurchase program of up to 100 million common shares, of which approximately 43% were still available for repurchase at September 30, 2024. Fourth quarter 2024 share repurchase activity is expected to approximate recent quarterly average share repurchase levels. PNC may adjust share repurchase activity depending on market and economic conditions, as well as other factors. PNC’s SCB for the four-quarter period beginning October 1, 2024 is the regulatory minimum of 2.5%.
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