filings.toolsItem 1A. Risk Factors
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Item 1A. Risk Factors
Our Annual Report on Form 10-K for the year ended December 31, 2021 includes a listing of risk factors to be considered by investors in our securities. During the second quarter of 2022, there have been no material changes in our risk factors from those set forth in our Annual Report on Form 10-K for the year ended December 31, 2021.
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
As of December 31, 2021, we had an aggregate available repurchase authorization of $358.2 million. In February, 2022, our Board of Directors authorized a $1.4 billion increase to the program. As of June 30, 2022, we had an aggregate available repurchase authorization of $1.21 billion. Pursuant to this program, shares of our Class B Common Stock may be repurchased, from time to time as conditions allow, on the open market or in negotiated private transactions. There is no expiration date for our stock repurchase program.
As reflected below, during the three-month period ended June 30, 2022, we have repurchased approximately 1.61 million shares at an aggregate cost of approximately $195.62 million (approximately $121.67 per share) pursuant to the terms of our stock repurchase program. In addition, during the three-month period ended June 30, 2022, 27,309 shares were repurchased in connection with income tax withholding obligations resulting from stock-based compensation programs.
During the period of April 1, 2022 through June 30, 2022, we repurchased the following shares:
| Additional Dollars Authorized For Repurchase (in thousands) | Total number of shares purchased | Total number of shares cancelled | Average price paid per share for forfeited restricted shares | Total Number of shares purchased as part of publicly announced programs | Average price paid per share for shares purchased as part of publicly announced program | Aggregate purchase price paid for shares purchased as part of publicly announced program (in thousands) | Maximum number of shares that may yet be purchased under the program | Maximum number of dollars that may yet be purchased under the program (in thousands) | ||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| April, 2022 | $ | - | 186,056 | 315 | $ | 0.01 | 160,000 | $ | 123.37 | $ | 19,740 | — | $ | 1,388,334 | ||||||||||||||||||||||
| May, 2022 | $ | - | 1,046,001 | 636 | $ | 0.01 | 1,045,171 | $ | 123.62 | $ | 129,203 | — | $ | 1,259,131 | ||||||||||||||||||||||
| June, 2022 | $ | - | 402,965 | 1,443 | $ | 0.01 | 402,542 | $ | 115.95 | $ | 46,673 | — | $ | 1,212,458 | ||||||||||||||||||||||
| Total April through June, 2022 | $ | - | 1,635,022 | 2,394 | $ | 0.01 | 1,607,713 | 121.67 | $ | 195,616 |
Dividends
During the quarter ended June 30, 2022, we declared and paid dividends of $.20 per share. Dividend equivalents are accrued on unvested restricted stock units and will be paid upon vesting of the restricted stock unit.
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