MOHAWK INDUSTRIES INC
For the period ended Sep 28, 2024. Filed Oct 25, 2024.
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Sep 28, 2024 · Filed Oct 25, 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
On February 10, 2022, the Company’s Board of Directors approved a new share repurchase program, authorizing the Company to repurchase up to $500 million of its common stock (the “2022 Share Repurchase Program”). In the third quarter of 2024, the Company did not purchase any of its common stock. As of September 28, 2024, there remained $141.4 million authorized under the 2022 Share Repurchase Program.
Under the 2022 Share Repurchase Program, the Company may purchase common stock in open market transactions, block or privately negotiated transactions, and may from time to time purchase shares pursuant to trading plans in accordance with Rules 10b5-1 or 10b-18 under the Exchange Act or by any combination of such methods. The number of shares to be purchased and the timing of the purchases are based on a variety of factors, including, but not limited to, the level of cash balances, credit availability, debt covenant restrictions, general business conditions, regulatory requirements, the market price of the Company’s stock and the availability of alternative investment opportunities. No time limit was set for completion of repurchases under the 2022 Share Repurchase Program and the 2022 Share Repurchase Program may be suspended or discontinued at any time.
The following table provides information regarding share repurchase activity during the three months ended September 28, 2024:
| Period | Total Number of Shares Purchased in Millions | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Plan in Millions | Approximate Dollar Value of Shares That May Yet Be Purchased Under the Plan in Millions |
|---|---|---|---|---|
| June 30 through August 3, 2024 | — | $— | 0.0 | $141.4 |
| August 4 through August 31, 2024 | — | $— | 0.0 | $141.4 |
| September 1 through September 28, 2024 | — | $— | 0.0 | $141.4 |
| Total | — | $— | 0.0 |
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