filings.toolsItem 1A. Risk Factors
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Item 1A. Risk Factors
The Company's risk factors, as of March 31, 2024, have not materially changed from those described in Part 1, Item 1A of our 2023 Form 10-K for the fiscal year ended December 31, 2023.
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
A) Recent Sales of Unregistered Securities
None.
B) Use of Proceeds from our Initial Public Offering of Common Stock
Not applicable.
C) Repurchases of Shares or of Company Equity Securities
On November 29, 2023, the Board of Directors of the Company approved a stock repurchase program, which authorizes the repurchase of shares of Company Class A common stock in an aggregate amount of up to $3.0 billion through December 31, 2027. The stock repurchase program does not obligate the Company to repurchase any specific dollar amount or number of shares of Class A common stock and the Board's authorization of the program may be modified, suspended or discontinued at any time.
During the quarter ended March 31, 2024, Vertiv purchased 9,076,444 shares of its common stock, par value $0.0001 per share. As of March 31, 2024, $2.4 billion remain for additional share repurchases. The following table summarizes our purchases our Vertiv's common stock for the quarter ended March 31, 2024:
| Issuer Purchases of Equity Securities | ||||||||||||||||||||||||||
| Period | Total number of shares purchased | 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 plans or programs (in millions) | ||||||||||||||||||||||
| January 1-31, 2024 | — | $ | — | — | $ | 3,000.0 | ||||||||||||||||||||
| February 1-29, 2024 | 8,512,587 | $ | 66.06 | 8,512,587 | $ | 2,437.6 | ||||||||||||||||||||
| March 1-31, 2024 | 563,857 | $ | 66.51 | 563,857 | $ | 2,400.1 |
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None.
ITEM 4. MINE SAFETY DISCLOSURES
Not applicable.
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