Mativ Holdings Inc
For the period ended Jun 30, 2024. Filed Aug 8, 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.
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
Purchases of Equity Securities By the Issuer and Affiliated Purchasers
The following table indicates the cost of and number of shares of our Common Stock we have repurchased during 2024 and the remaining amount of share repurchases currently authorized by our Board of Directors as of June 30, 2024:
| Issuer Purchases of Equity Securities | |||||
|---|---|---|---|---|---|
| Period · TotalNumber ofSharesPurchased · AveragePricePaid perShare · Total Number of SharesPurchased as Part ofPublicly AnnouncedPrograms · Approximate Dollar Value of Shares that May Yet be Purchased Under the Programs | |||||
| (# of shares) · (in millions) · (in millions) | |||||
| January 1 - March 31, 2024 | — | — | — | — | $22.0 |
| April 1 - April 30, 2024 | — | — | — | — | 22.0 |
| May 1 - May 31, 2024 | — | — | — | — | 22.0 |
| June 1 - June 30, 2024 | — | — | — | — | 22.0 |
| Total Year-to-Date 2024 | — | — | — | — | $22.0 |
Transactions represent the purchase of vested restricted shares from employees to satisfy minimum tax withholding requirements upon vesting of stock-based awards and shares purchased as part of our repurchase program approved in July 2023 and announced on August 2, 2023.
In August 2023, the Board of Directors authorized the repurchase of shares of Mativ Common Stock in an amount not to exceed $30.0 million. Under the current $30.0 million authorization for the share repurchases, the Company purchased 539,386 shares for $8.0 million as of August 5, 2024.
From time to time, the Company uses corporate 10b5-1 plans to allow for share repurchases to be made at predetermined stock price levels, without restricting such repurchases to specific windows of time. Any future common stock repurchases will be dependent upon various factors, including the stock price of our Common Stock, strategic opportunities, strategic outlook, and cash availability. From time-to-time, certain of our officers and directors may sell shares pursuant to personal 10b5-1 plans.
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