International Seaways Inc
For the period ended Sep 30, 2024. Filed Nov 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.
Sep 30, 2024 · Filed Nov 7, 2024
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Item 1A. Risk Factors
You should carefully consider the factors discussed in Part I, Item 1A. “Risk Factors” in our 2023 Form 10-K. The risks described in that document are not the only risks facing us. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially adversely affect our business, financial condition and/or operating results.
The following table summarizes the activity related to repurchases of our equity securities during the three months ended September 30, 2024:
| · · · · · · · · · · · · | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| · Total Number of Shares Purchased · · · Average Price paid per Share · · · Total Cost (in Millions) · · Total Number of Shares Purchased as Part of Publicly Announced Program · · · Approximate Dollar Value of Shares that May Yet Be Purchased Under the Program(in Millions) | |||||||||||
| July 2024 | - | | $ | - | | $ | - | | - | | $50.0 |
| August 2024 | - | | $ | - | | $ | - | | - | | $50.0 |
| September 2024 | 501,646 | | $49.81 | | $25.0 | | 501,646 | | $25.0 | ||
As of September 30, 2024, the maximum number of shares that may still be purchased under the program is 485,165 shares, which was determined by dividing the remaining buyback authorization by the September 30, 2024 closing price of the Company’s common stock. Future buybacks under the stock repurchase program will be at the discretion of our Board of Directors and subject to limitations under the Company’s debt facilities.
See Note 10, “Capital Stock and Stock Compensation,” to the accompanying condensed consolidated financial statements for additional information about the stock repurchase plan and a description of shares withheld to cover the cost of stock options exercised by certain members of management and tax withholding liabilities relating to the vesting of previously-granted equity awards to certain members of management, which is incorporated by reference in this Part II, Item 2.
Not applicable.
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