ONTO INNOVATION INC.

In February 2024, the Onto Innovation Board of Directors approved a new share repurchase authorization, which allows the Company to repurchase up to $200 million worth of shares of its common stock. There were 0 and 492 thousand shares of common stock repurchased under this authorization during the three and six months ended June 28, 2025, respectively. There was $99.9 million available for future share repurchases under this share repurchase authorization at June 28, 2025. For further information, see Note 16, “Share Repurchase Authorization,” of the Notes to the Condensed Consolidated Financial Statements.

In addition to our share repurchase program, we withhold common stock shares associated with net share settlements to cover tax withholding obligations upon the vesting of restricted stock unit awards under the Company’s equity incentive program. During the three and six months ended June 28, 2025, we withheld 37 thousand and 49 thousand shares through net share settlements, respectively. For the three and six months ended June 28, 2025, net share settlements cost $3.7 million and $12.4 million, respectively. Please refer to Note 10, “Share-Based Compensation,” of the Notes to the Condensed Consolidated Financial Statements for further discussion regarding our equity incentive plan.

The following table provides details of common stock purchased during the three months ended June 28, 2025 (in thousands, except per share data):