REINSURANCE GROUP OF AMERICA INC
For the period ended Sep 30, 2024. Filed Nov 1, 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.
Sep 30, 2024 · Filed Nov 1, 2024
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Unregistered Sales of Equity Securities and Use of Proceeds
Issuer Purchases of Equity Securities
The following table summarizes RGA’s repurchase activity of its common stock during the quarter ended September 30, 2024:
| Total Number of SharesPurchased (1) | Average Price Paid per Share | Total Number of SharesPurchased as Part ofPublicly Announced Plansor Programs (1) | Maximum Number (orApproximate DollarValue) of Shares that MayYet Be Purchased Underthe Plan or Program | |
|---|---|---|---|---|
| July 1, 2024 – July 31, 2024 | 26,338 | $223.75 | — | $500,000,000 |
| August 1, 2024 – August 31, 2024 | 2,335 | $210.06 | — | $500,000,000 |
| September 1, 2024 – September 30, 2024 | 1,592 | $219.31 | — | $500,000,000 |
(1)The Company did not repurchase any shares of common stock under its share repurchase program in July, August and September 2024. The Company net settled– issuing 59,586, 5,997, and 3,793 shares from treasury and repurchasing from recipients 26,338, 2,335, and 1,592 shares in July, August and September 2024, respectively, in settlement of income tax withholding requirements incurred by the recipients of equity incentive awards.
On January 23, 2024, the Company’s board of directors authorized a share repurchase program for up to $500 million of its outstanding common stock. The authorization was effective immediately and does not have an expiration date. During the nine months ended September 30, 2024, the Company did not repurchase any shares of common stock under this program.
The pace of repurchase activity depends on various factors such as the level of available cash, an evaluation of the costs and benefits associated with alternative uses of excess capital, such as acquisitions and in force reinsurance transactions, and the Company’s stock price.
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