LKQ CORP
For the period ended Sep 30, 2024. Filed Oct 24, 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.
Sep 30, 2024 · Filed Oct 24, 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
Our Board of Directors has authorized a stock repurchase program under which we are able to purchase our common stock from time to time. On October 22, 2024, our Board of Directors authorized a $1,000 million increase to our existing stock repurchase program, raising the aggregate program authorization to $4,500 million, and extended the duration through October 25, 2026. Repurchases under the program may be made in the open market or in privately negotiated transactions, with the amount and timing of repurchases depending on market conditions and corporate needs. The repurchase program does not obligate us to acquire any specific number of shares and may be suspended or discontinued at any time.
The following table summarizes our stock repurchases for the three months ended September 30, 2024 (in millions, except per share data):
| Period · Total Number of Shares Purchased · Average Price Paid per Share (1) · Total Number of Shares Purchased as Part of Publicly Announced Program · Approximate Dollar Value of Shares that May Yet Be Purchased Under the Program | |||||
|---|---|---|---|---|---|
| July 1, 2024 - July 31, 2024 | 1.3 | $42.33 | 1.3 | $866 | |
| August 1, 2024 - August 31, 2024 | 1.6 | $40.52 | 1.6 | $801 | |
| September 1, 2024 - September 30, 2024 | 0.1 | $41.43 | 0.1 | $796 | |
| Total | 3.0 | 3.0 | |||
(1)Average price paid per share excludes the 1% excise tax accrued on our share repurchases as a result of the Inflation Reduction Act of 2022.
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