SCANSOURCE INC
For the period ended Sep 30, 2024. Filed Nov 7, 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 7, 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 |
|---|
Share Repurchases
In August 2021, our Board of Directors authorized a $100 million share repurchase program all of which have been repurchased. In May 2024, our Board of Directors approved a new $100.0 million share repurchase authorization. The authorization does not have any time limit.
The following table presents the share-repurchase activity for the quarter ended September 30, 2024 (in thousands except share and per share data):
| Period | Total number of shares purchased (1) | Average price paid per share | Total number of shares purchased as part of the publicly announced plan or program | Approximate dollar value of shares that may yet be purchased under the plan or program |
|---|---|---|---|---|
| July 1 - 31, 2024 | 219,906 | $ 46.49 | 219,906 | $ 112,925,332 |
| August 1- 31, 2024 | 318,748 | $ 48.42 | 219,963 | $ 102,274,946 |
| September 1 - 30, 2024 | 148,267 | $ 47.50 | 148,149 | $ 95,237,613 |
| Total | 686,921 | 588,018 | $ 95,237,613 |
(1)Shares withheld from employees' stock-based awards to satisfy required tax withholding obligations totaled 98,785 for the month of August 2024 and 118 for the month of September 2024. There were no shares withheld during the month of July 2024.
Dividends
We have never declared or paid a cash dividend. Under the terms of our credit facility, the payment of cash dividends is restricted.
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