CoreCivic Inc
For the period ended Jun 30, 2024. Filed Aug 8, 2024.
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Jun 30, 2024 · Filed Aug 8, 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.
Issuer Purchases of Equity Securities
| Period | Total Numberof SharesPurchased | Average PricePaid per Share | Total Numberof SharesPurchased asPart of PubliclyAnnouncedPlans orPrograms | ApproximateDollar Value ofShares thatMay Yet BePurchased Under the Plansor Programs (1) |
|---|---|---|---|---|
| April 1, 2024 - April 30, 2024 | 222,949 | $15.04 | 222,949 | $69,677,620 |
| May 1, 2024 - May 31, 2024 | 839,381 | $15.40 | 839,381 | $181,754,025 |
| June 1, 2024 - June 30, 2024 | 247,246 | $15.60 | 247,246 | $177,897,710 |
| Total | 1,309,576 | $15.37 | 1,309,576 | $177,897,710 |
(1) During 2022, the Board of Directors, or BOD, approved a share repurchase program to repurchase up to $225.0 million of the Company's common stock. On May 16, 2024, the BOD authorized an increase to the share repurchase program to which the Company may purchase up to an additional $125.0 million in shares of the Company's outstanding common stock, increasing the total aggregate authorization to up to $350.0 million. Repurchases of the Company's outstanding common stock will be made in accordance with applicable securities laws and may be made at the Company's discretion based on parameters set by the BOD from time to time in the open market, through privately negotiated transactions, or otherwise. The share repurchase program has no time limit and does not obligate the Company to purchase any particular amount of its common stock. The authorization for the share repurchase program may be terminated, suspended, increased or decreased by the BOD in its discretion at any time. As of June 30, 2024, the Company had repurchased a total of 14.1 million shares of the Company's common stock at an aggregate cost of approximately $172.1 million. As a result of the termination of an IGSA with respect to the STFRC effective August 9, 2024, and the impact such termination will have on the Company’s leverage ratios, the Company intends to prioritize the use of its free cash flow to further reduce its debt, although the Company may exercise discretion in repurchasing additional shares of its common stock in accordance with the repurchase program based on parameters set by the BOD.
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