filings.toolsItem 1A. Risk Factors
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Item 1A. Risk Factors
During the first three months of 2023, there have been no material changes to the risk factors in Part I – Item 1A – Risk Factors in the 2022 Form 10-K.
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THE CHARLES SCHWAB CORPORATION
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Issuer Purchases of Equity Securities
On July 27, 2022, CSC publicly announced that its Board of Directors terminated its prior repurchase authorization and replaced it with a new authorization to repurchase up to $15.0 billion of common stock. The authorization does not have an expiration date. See also Part I – Item 1 – Note 14.
The following table summarizes purchases made by or on behalf of CSC of its common stock for each calendar month in the first quarter of 2023 (in millions, except number of shares, which are in thousands, and per share amounts):
| Month | Total Number of Shares Purchased | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Program | Approximate Dollar Value of Shares That May Yet Be Purchased Under the Publicly Announced Program | ||||||||||||||||||||||
| January: | ||||||||||||||||||||||||||
| Share repurchase program | 11,025 | $ | 78.28 | 11,025 | $ | 10,702 | ||||||||||||||||||||
| Employee transactions (1) | 18 | $ | 82.95 | N/A | N/A | |||||||||||||||||||||
| February: | ||||||||||||||||||||||||||
| Share repurchase program | 18,858 | $ | 79.58 | 18,858 | $ | 9,201 | ||||||||||||||||||||
| Employee transactions (1) | 6 | $ | 79.68 | N/A | N/A | |||||||||||||||||||||
| March: | ||||||||||||||||||||||||||
| Share repurchase program | 6,628 | $ | 72.08 | 6,628 | $ | 8,723 | ||||||||||||||||||||
| Employee transactions (1) | 850 | $ | 76.82 | N/A | N/A | |||||||||||||||||||||
| Total: | ||||||||||||||||||||||||||
| Share repurchase program | 36,511 | $ | 77.82 | 36,511 | $ | 8,723 | ||||||||||||||||||||
| Employee transactions (1) | 874 | $ | 76.97 | N/A | N/A |
(1) Includes restricted shares withheld (under the terms of grants under employee stock incentive plans) to offset tax withholding obligations that occur upon vesting and release of restricted shares. CSC may receive shares delivered or attested to pay the exercise price and/or to satisfy tax withholding obligations by employees who exercise stock options granted under employee stock incentive plans, which are commonly referred to as stock swap exercises.
N/A Not applicable.
Item 3. Defaults Upon Senior Securities
None.
Item 4. Mine Safety Disclosures
Not applicable.
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