ZIMMER BIOMET HOLDINGS INC
For the period ended Mar 31, 2024. Filed May 2, 2024.
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Mar 31, 2024 · Filed May 2, 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
Unregistered Sales of Equity Securities
During the three-month period ended March 31, 2024, we issued 0.2 million shares of our common stock valued at $23.4 million upon the achievement of a commercial milestone related to the Embody acquisition. The shares were issued to the former Embody shareholders whom we reasonably believed to be accredited investors in a private transaction exempt from registration under Section 4(a)(2) and Regulation D under the Securities Act. To minimize dilution from issuing shares for the milestone settlement, we repurchased 0.2 million shares of our common stock in February 2024.
Issuer Purchases of Equity Securities
The following table summarizes repurchases of common stock settled during the three-month period ended March 31, 2024:
| Period | Total Number of Shares Purchased | Average Price Paid per Share | Total Number of Shares Purchased as a Part of Publicly Announced Program(1) | Maximum Approximate Dollar Value of Shares that may yet bePurchased Under the Program(1) |
|---|---|---|---|---|
| January 2024 | 530,017 | $120.94 | 530,017 | $91,702,916 |
| February 2024 | 192,737 | 123.87 | 192,737 | 67,828,222 |
| March 2024 | - | - | - | 67,828,222 |
| Total | 722,754 | $121.72 | 722,754 | $67,828,222 |
(1) In February 2016, our Board of Directors authorized a $1.0 billion share repurchase program effective March 1, 2016, with no expiration date.
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