NEXSTAR MEDIA GROUP INC
For the period ended Jun 30, 2024. Filed Aug 8, 2024.
View on SEC.govAbout this filing
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.
Jun 30, 2024 · Filed Aug 8, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
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 six months ended June 30, 2024, Nexstar repurchased a total of 1,514,478 shares of its common stock for $246 million, funded by cash on hand, which was accounted for as treasury cost. As of June 30, 2024, the remaining available amount under the share repurchase authorization was $406 million.
The following is a summary of Nexstar’s repurchases of its common stock by month during the quarter ended June 30, 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 | |
| April 4 to 30, 2024 | 231,460 | $163.51 | 231,460 | $504 |
| May 1 to 31, 2024 | 185,708 | $162.33 | 185,708 | 474 |
| June 3 to 27, 2024 | 430,736 | $155.55 | 430,736 | 406 |
| 847,904 | $159.21 | 847,904 | ||
On July 26, 2024, Nexstar announced that its Board of Directors increased its share repurchase authorization by $1.5 billion. From July 1, 2024 to August 7, 2024, we repurchased 266,014 shares of our common stock for $46 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 $1.9 billion.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.