RingCentral Inc
For the period ended Mar 31, 2024. Filed May 7, 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.
Mar 31, 2024 · Filed May 7, 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 summarizes the share repurchase activity of our Class A Common Stock for the three months ended March 31, 2024 (in thousands, except per-share amounts):
| Period · Total number of shares purchased (1) · Average price paid per share (2) · Total number of shares purchased as part of publicly announced plans or programs (1) · Approximate dollar value of shares that may yet be purchased under the programs (1) (3) | |||||
|---|---|---|---|---|---|
| Balance as of December 31, 2023 | 85,036 | ||||
| January 1, 2024 to January 31, 2024 | 1,032,526 | $33.46 | 1,032,526 | 50,654 | |
| Authorization of additional share repurchase program | — | $— | — | 150,000 | |
| February 1, 2024 to February 29, 2024 | 183,170 | $32.74 | 183,170 | 194,658 | |
| March 1, 2024 to March 31, 2024 | 1,145,506 | $34.94 | 1,145,506 | 154,689 | |
| Balance as of March 31, 2024 | 2,361,202 | 2,361,202 | 154,689 | ||
(1)In November 2023, our board of directors authorized a share repurchase program under which we may repurchase up to $100.0 million of the Company’s outstanding shares of Class A Common Stock, subject to certain limitations. In February 2024 our board of directors increased their authorization by $150.0 million, also subject to certain limitations. The authorization under these programs expires on December 31, 2024. In May 2024, our board of directors authorized an incremental $250 million share repurchase, subject to certain limitations. The authorization under this program does not expire. Refer to Note 10, Stockholders’ Deficitin the accompanying notes to the Condensed Consolidated Financial Statements included in Part I, Item 1, of this Quarterly Report on Form 10-Q for additional information.
(2)Average price per share excludes excise taxes and broker’s commissions.
(3)Amounts presented excludes excise taxes and broker’s commissions on share repurchases.
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