MILLERKNOLL INC
For the period ended Nov 30, 2024. Filed Jan 6, 2025.
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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.
Nov 30, 2024 · Filed Jan 6, 2025
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Item 1A. Risk Factors
There have been no material changes in the Company's risk factors from those set forth in the Company's Annual Report on Form 10-K for the year ended June 1, 2024.
Issuer Purchases of Equity Securities
The Company has one share repurchase plan authorized by the Board of Directors on January 16, 2019, which provides a share repurchase authorization of $250.0 million with no specified expiration date. On July 16, 2024, the Company announced that the Board of Directors approved an increase to this repurchase plan to authorize an additional $200 million to fund share repurchases. The approximate dollar value of shares available for purchase under the plan at November 30, 2024, was $199.4 million.
The following is a summary of share repurchase activity during the fiscal quarter ended November 30, 2024.
| Period · (a) Total Number of Shares Purchased · (b) Average Price Paid per Share · (c) Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs · (d) Approximate Dollar Value of Shares that may yet be Purchased Under the Plans or Programs (in millions) (1) | |||||
|---|---|---|---|---|---|
| 9/1/2024 - 9/28/2024 | 82,313 | $24.48 | 82,313 | $220.5 | |
| 9/29/2024 - 10/26/2024 | 391,107 | $24.39 | 391,107 | $211.0 | |
| 10/27/2024 - 11/30/24 | 482,226 | $24.05 | 482,226 | $199.4 | |
| Total | 955,646 | 955,646 | |||
(1) Amounts are as of the end of the period indicated
The Company may repurchase shares from time to time in open market transactions, privately negotiated transactions, pursuant to accelerated share repurchase programs or otherwise in accordance with applicable federal securities laws. The timing and amount of the repurchases will be determined by the Company's management based on their evaluation of market conditions, share price and other factors. The share repurchase program may be suspended or discontinued at any time.
During the period covered by this report, the Company did not sell any shares of common stock that were not registered under the Securities Act of 1933.
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