GENTEX CORP
For the period ended Jun 30, 2024. Filed Aug 2, 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.
Jun 30, 2024 · Filed Aug 2, 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.
(c) Issuer Purchase of Equity Securities
The Company has a previously announced share repurchase plan under which the Board of Directors has authorized the repurchase of shares of the Company's common stock, which remains a part of the broader publicly disclosed capital allocation strategy. During the first six months of 2024, the Company repurchased 2.6 million shares under the share repurchase plan. As previously disclosed, the Company will consider the appropriateness of continuing to repurchase additional shares of common stock in the future in support of the capital allocation strategy, but share repurchases will vary from time to time and will take into account macroeconomic events, market trends, and other factors the Company deems appropriate (including the market price of the stock, anti-dilutive effect of repurchases, and available cash).
After the Company repurchased 2,603,570 shares during the first six months of 2024, the Company has 13.2 million shares remaining under the plan as of June 30, 2024.
The following is a summary of share repurchase activity during each month of the six month period ended June 30, 2024:
| Issuer Purchase of Equity Securities | ||||||
|---|---|---|---|---|---|---|
| Period · Total Number of Shares Purchased · WeightedAverage Price Paid Per Share · Total Number of Shares Purchased As Part of a Publicly Announced Plan or Program · Maximum Number of Shares That May Yet Be Purchased Under the Plan or Program | ||||||
| January 2024 | 90,006 | 33.81 | 90,006 | 15,761,173 | ||
| February 2024 | 510,247 | 35.31 | 510,247 | 15,250,926 | ||
| March 2024 | 600,650 | 36.59 | 600,650 | 14,650,276 | ||
| 1st Quarter 2024 Total | 1,200,903 | 35.84 | 1,200,903 | |||
| April 2024 | 60,087 | 34.80 | 60,087 | 14,590,189 | ||
| May 2024 | 661,221 | 34.72 | 661,221 | 13,928,968 | ||
| June 2024 | 681,359 | 34.12 | 681,359 | 13,247,609 | ||
| 2nd Quarter 2024 Total | 1,402,667 | 1,402,667 | ||||
| 2024 Total | 2,603,570 | 2,603,570 | 13,247,609 | |||
As of June 30, 2024, the Company has repurchased 158,752,119 shares at a total cost of $2,838,023,276 under its share repurchase plan or as otherwise previously disclosed.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.