Voya Financial Inc
For the period ended Sep 30, 2024. Filed Nov 6, 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 Nov 6, 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
The following table summarizes Voya Financial, Inc.’s repurchases of its common stock for the three months ended September 30, 2024:
| Period | Total Number of Shares Purchased(1) | Average Price Paid Per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs(2) | Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs(3) |
|---|---|---|---|---|
| (in millions) | ||||
| July 1, 2024 - July 31, 2024 | 944,568 | $72.19 | 917,636 | $485 |
| August 1, 2024 - August 31, 2024 | 49,147 | 70.70 | 38,978 | 482 |
| September 1, 2024 - September 30, 2024 | 1,106,175 | 75.29 | 1,061,853 | 382 |
| Total | 2,099,890 | $73.79 | 2,018,467 | N/A |
(1) In connection with the exercise or vesting of equity-based compensation awards, employees may remit to Voya Financial, Inc., or Voya Financial, Inc. may withhold into treasury stock, shares of common stock in respect of tax withholding obligations and option exercise cost associated with such exercise or vesting. For the three months ended September 30, 2024, there was an increase of 81,423 treasury shares in connection with such withholding activities.
(2)On September 12, 2024, the Company entered into a share repurchase agreement with a third-party financial institution to repurchase $100 million of the Company's common stock. Pursuant to the agreement, the Company received initial delivery of 1,061,853 shares based on the closing market price of the Company's common stock on September 12, 2024 of $75.34. This arrangement is scheduled to terminate no later than December 31, 2024, at which time the Company will settle any positive or negative share balances based on the daily volume-weighted average of the Company's common stock.
(3)On October 31, 2024, the Company's Board of Directors provided an additional share repurchase authorization of $500 million. This share repurchase authorization expires on December 31, 2025 (unless extended) and does not obligate the Company to purchase any shares. The authorization for the share repurchase program may be terminated, increased or decreased by the Company's Board at any time.
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