KULICKE & SOFFA INDUSTRIES INC
For the period ended Dec 30, 2023. Filed Feb 1, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 30, 2023 · Filed Feb 1, 2024
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Item 1A. RISK FACTORS
Certain Risks Related to Our Business
There have been no material changes from the risk factors discussed in Part I, Item 1A, “Risk Factors”, of our 2023 Annual Report.
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
The following table summarizes the repurchases of common stock during the three months ended December 30, 2023 (in millions, except number of shares, which are reflected in thousands, and per share amounts):
| 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 the Plans or Programs(1) | |||||
|---|---|---|---|---|---|
| October 1, 2023 to October 28, 2023 | 154 | $45.37 | 154 | $174.1 | |
| October 29, 2023 to December 2, 2023 | 285 | $48.21 | 285 | $160.3 | |
| December 3, 2023 to December 30, 2023 | 116 | $52.47 | 116 | $154.2 | |
| For the three months ended December 30, 2023 | 555 | 555 | |||
(1)On August 15, 2017, the Company’s Board of Directors authorized the Program to repurchase up to $100 million in total of the Company’s common stock on or before August 1, 2020. In 2018, 2019 and 2020, the Board of Directors increased the share repurchase authorization under the Program to $200 million, $300 million and $400 million, respectively. On March 3, 2022, the Board of Directors further increased the share repurchase authorization under the Company’s existing share repurchase program by an additional $400 million to $800 million, and extended its duration through August 1, 2025. The Company may repurchase shares of its common stock through open market and privately negotiated transactions at prices deemed appropriate by management. On November 17, 2023, the Company modified its written trading plan under Rule 10b5-1 of the Exchange Act, such plan as first entered into on May 7, 2022 to facilitate repurchases under the Program. The purpose of the modification was to revise the previously established amounts and prices under the plan by providing for the purchase of up to approximately $169 million of the Company’s common stock from November 20, 2023 through August 1, 2025. The Program may be suspended or discontinued at any time and will be funded using the Company’s available cash, cash equivalents and short-term investments. Under the Program, shares may be repurchased through open market and/or privately negotiated transactions at prices deemed appropriate by management. The timing and amount of repurchase transactions under the Program depend on market conditions as well as corporate and regulatory considerations.
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