MCCORMICK & CO INC
For the period ended Feb 29, 2024. Filed Mar 26, 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.
Feb 29, 2024 · Filed Mar 26, 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
The following table summarizes our purchases of our Common Stock (CS) and Common Stock Non-Voting (CSNV) during the first quarter of 2024.
| ISSUER PURCHASES OF EQUITY SECURITIES | |||||
|---|---|---|---|---|---|
| Period · Total Number ofShares Purchased · Average Price Paid per share · TotalNumber ofSharesPurchasedas Part ofPubliclyAnnouncedPlans orPrograms · ApproximateDollar Valueof Shares thatMay Yet BePurchasedUnder thePlans orPrograms | |||||
| December 1, 2023 to December 31, 2023 | CS – 0 | $— | — | $501 | million |
| CSNV – 0 | $— | — | |||
| January 1, 2024 to January 31, 2024 | CS – 1,834 | $68.69 | 1,834 | $501 | million |
| CSNV – 0 | $— | — | |||
| February 1, 2024 to February 29, 2024 | CS – 1,000 | $65.68 | 1,000 | $501 | million |
| CSNV – 1,000 | $67.88 | 1,000 | |||
| Total | CS – 2,834 | $67.63 | 2,834 | $501 | million |
| CSNV – 1,000 | $67.88 | 1,000 | |||
As of February 29, 2024, $501 million remained of the $600 million share repurchase authorization approved by the Board of Directors in November 2019. The timing and amount of any shares repurchased is determined by our management based on its evaluation of market conditions and other factors.
In certain circumstances, we issue shares of CS in exchange for shares of CSNV, or issue shares of CSNV in exchange for shares of CS, in either case pursuant to the exemption from registration provided by Section 3(a)(9) of the Securities Act of 1933, as amended. Typically, these exchanges are made in connection with the administration of our employee benefit plans, executive compensation programs and dividend reinvestment/direct purchase plans or at the request of holders of common stock. The number of shares issued in an exchange is generally equal to the number of shares received in the exchange, although the number may differ slightly to the extent necessary to comply with the requirements of the Employee Retirement Income Security Act of 1974. During the first quarter of 2024, we issued 353,728 shares of CSNV in exchange for shares of CS and issued 6,976 shares of CS in exchange for shares of CSNV.
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