RENAISSANCERE HOLDINGS LTD
For the period ended Mar 31, 2024. Filed May 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.
Mar 31, 2024 · Filed May 1, 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
Our share repurchase program may be effected from time to time, depending on market conditions and other factors, through open market purchases and privately negotiated transactions. Our Board of Directors has authorized a share repurchase program in an aggregate amount of up to $500.0 million, which was last renewed on August 2, 2022. Unless terminated earlier by our Board of Directors, the program will expire when we have repurchased the full value of the shares authorized.
The table below details the repurchases that were made during the first quarter of 2024, which represents common shares surrendered by employees in respect of withholding tax obligations on the vesting of restricted stock.
| Total shares purchased · Other shares purchased · Shares purchased under publicly announced repurchase program · Maximum dollar amount still available under repurchase program | |||||||
|---|---|---|---|---|---|---|---|
| Sharespurchased · Averageprice pershare · Sharespurchased · Averageprice pershare · Sharespurchased · Averageprice pershare | |||||||
| (in thousands) | |||||||
| Beginning dollar amount available to be repurchased | $500,000 | ||||||
| January 1 - 31, 2024 | — | $— | — | $— | — | $— | $500,000 |
| February 1 - 29, 2024 | 67,693 | $228.60 | 67,693 | $228.60 | — | $— | $500,000 |
| March 1 - 31, 2024 | 25,258 | $231.56 | 25,258 | $231.56 | — | $— | $500,000 |
| Total | 92,951 | $229.40 | 92,951 | $229.40 | — | $— | $500,000 |
During the three months ended March 31, 2024, we did not repurchase common shares pursuant to our publicly announced share repurchase program. At March 31, 2024, $500.0 million remained available for repurchase under the share repurchase program. In the future, we may authorize additional purchase activities under the currently authorized share repurchase program, increase the amount authorized under the share repurchase program, or adopt additional trading plans. Our decision to repurchase common shares will depend on, among other matters, the market price of the common shares and our capital requirements.
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