NEXSTAR MEDIA GROUP INC
For the period ended Mar 31, 2024. Filed May 9, 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 9, 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 July 27, 2022, Nexstar’s board of directors approved a share repurchase program authorizing Nexstar to repurchase up to $1.5 billion of its common stock, of which $652 million of capacity remained available as of December 31, 2023. During the three months ended March 31, 2024, Nexstar repurchased a total of 666,574 shares of its common stock for $111 million, funded by cash on hand, which was accounted for as treasury cost. As of March 31, 2024, the remaining available amount under the share repurchase authorization was $541 million.
The following is a summary of Nexstar’s repurchases of its common stock by month during the quarter ended March 31, 2024 (in millions, except for share and per share information):
| Total Number of Shares · Approximate Dollar Value | ||||
|---|---|---|---|---|
| Purchased as Part of · of Shares That May Yet Be | ||||
| Total Number | Average Price | Publicly Announced | Purchased Under the | |
| of Shares Purchased | Paid per Share | Plans or Programs | Plans or Programs | |
| January 10 to 31, 2024 | 84,365 | $172.34 | 84,365 | $638 |
| February 1 to 27, 2024 | 105,932 | $169.88 | 105,932 | 620 |
| March 6 to 28, 2024 | 476,277 | $164.17 | 476,277 | 541 |
| 666,574 | $166.11 | 666,574 | ||
From April 1, 2024 to May 8, 2024, we repurchased 275,532 shares of our common stock for $45 million, funded by cash on hand. As of the date of filing this Quarterly Report on Form 10-Q, the remaining available amount under the share repurchase authorization was $496 million.
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