POWER INTEGRATIONS INC
For the period ended Mar 31, 2025. Filed May 12, 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.
Mar 31, 2025 · Filed May 12, 2025
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Unregistered Sales of Equity Securities and Use of Proceeds
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
Issuer Purchases of Equity Securities
In the three months ended March 31, 2025, we repurchased approximately 404,000 of our shares for $23.1 million, leaving $25.0 million remaining on the repurchase authorization as of March 31, 2025. In April 2025, we utilized the remaining $25.0 million, repurchasing approximately 560,000 shares of our common stock. Subsequently, our board of directors authorized the use of an additional $50.0 million for the repurchase of our common stock, with repurchases to be executed according to pre-defined price/volume guidelines. The program has no expiration date. Authorization of future repurchase programs is at the discretion of our board of directors and will depend on our financial condition, results of operations, capital requirements, business conditions and other factors.
The following table summarizes repurchases of our common stock made under our publicly announced repurchase program during the first quarter of fiscal 2025:
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|---|---|---|---|---|---|---|---|---|---|---|
| · · · · · · · · Approximate | ||||||||||
| · · · · · · · · · Dollar Value that | ||||||||||
| · · · · · · · Total Number of · · May Yet be | ||||||||||
| · · · · · · Shares Purchased · · Repurchased | ||||||||||
| · · Total · · Average · · as Part of · · Under the | ||||||||||
| · · Number of · · Price Paid · · Publicly Announced · · Plans or Program | ||||||||||
| Period · Shares Purchased · Per Share · Plans or Programs · (In millions) | ||||||||||
| January 1, 2025 to January 31, 2025 | | 62,157 | | $60.13 | | 62,157 | | $44.4 | ||
| February 1, 2025 to February 28, 2025 | | 79,947 | | $59.66 | | 79,947 | | $39.6 | ||
| March 1, 2025 to March 31, 2025 | | 261,463 | | $55.81 | | 261,463 | | $25.0 | ||
| Total | | 403,567 | | | | | 403,567 | | | |
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