JPMORGAN CHASE & CO
For the period ended Sep 30, 2024. Filed Oct 30, 2024.
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Sep 30, 2024 · Filed Oct 30, 2024
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Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
Repurchases under the common share repurchase program
Refer to Capital Risk Management on pages 44-49 of this Form 10-Q and pages 91-101 of JPMorgan Chase’s 2023 Form 10-K for information regarding repurchases under the Firm’s common share repurchase program.
On June 28, 2024, the Firm announced that its Board of Directors had authorized a new $30 billion common share repurchase program, effective July 1, 2024. Through June 30, 2024, the Firm was authorized to purchase up to $30 billion of common shares under its previously-approved common share repurchase program that was announced on April 13, 2022.
Shares repurchased pursuant to the common share repurchase program during the nine months ended September 30, 2024 were as follows:
| Nine months ended September 30, 2024 | Total number of shares of common stock repurchased | Average price paid per share of common stock(a) | Aggregate purchase price of common stock repurchases (in millions)(a) | Dollar value of remaining authorized repurchase(in millions)(a) |
|---|---|---|---|---|
| First quarter | 15,869,936 | $179.50 | $2,849 | $16,886 |
| Second quarter | 27,019,730 | $196.83 | $5,318 | $11,568(b) |
| July | 5,348,998 | 210.33 | 1,125 | 28,875 |
| August | 16,568,428 | 208.70 | 3,458 | 25,417 |
| September | 8,426,507 | 210.96 | 1,778 | 23,639(c) |
| Third quarter | 30,343,933 | 209.61 | 6,361 | 23,639(c) |
| Year-to-date | 73,233,599 | $198.37 | $14,528 | $23,639(c) |
(a)Excludes excise tax and commissions. As part of the Inflation Reduction Act of 2022, a 1% excise tax was imposed on net share repurchases effective January 1, 2023.
(b)The $11.6 billion under the prior Board authorization was canceled when the $30 billion repurchase program was authorized by the Board of Directors effective July 1, 2024.
(c)Represents the amount remaining under the $30 billion repurchase program.
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