filings.toolsItem 1A. Risk Factors.
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Item 1A. Risk Factors.
We face a number of risks that could materially and adversely affect our business, results of operations, cash flow, liquidity or financial condition. A discussion of our risk factors can be found in Part I, Item 1A. Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2022. Readers should not interpret the disclosure of any risk factor to imply that the risk has not already materialized. During the nine months ended September 30, 2023, there were no material changes to our previously disclosed risk factors.
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
A summary of the Company’s third quarter activity is as follows:
| Period | Total Number of Shares Purchased | Average Price Paid Per Share | Total Number of Shares Purchased as Part of a Publicly Announced Plan | Maximum Number of Shares That May Yet Be Purchased Under the Plan | ||||||||||||||||||||||
| July 1 - July 31 | ||||||||||||||||||||||||||
| Share repurchase program (1) | 25,000 | $ | 281.19 | 25,000 | 42,900,000 | |||||||||||||||||||||
| Employee transactions (2) | 3,271 | $ | 267.20 | N/A | ||||||||||||||||||||||
| August 1 - August 31 | ||||||||||||||||||||||||||
| Share repurchase program (1) | 925,000 | $ | 273.96 | 925,000 | 41,975,000 | |||||||||||||||||||||
| Employee transactions (2) | 1,114 | $ | 272.48 | N/A | ||||||||||||||||||||||
| September 1 - September 30 | ||||||||||||||||||||||||||
| Share repurchase program (1) | 550,000 | $ | 272.26 | 550,000 | 41,425,000 | |||||||||||||||||||||
| Employee transactions (2) | 358 | $ | 268.31 | N/A | ||||||||||||||||||||||
| Quarter Total | ||||||||||||||||||||||||||
| Share repurchase program (1) | 1,500,000 | $ | 273.45 | 1,500,000 | 41,425,000 | |||||||||||||||||||||
| Employee transactions (2) | 4,743 | $ | 268.52 | N/A | ||||||||||||||||||||||
(1)Shares were purchased through the Company’s publicly announced share repurchase program. There is no expiration date specified for the program.
(2)Shares were delivered to satisfy the exercise price and/or tax withholding obligations by employees who exercised stock options or had restricted stock units vest.
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