US Foods Holding Corp
For the period ended Mar 30, 2024. Filed May 9, 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 30, 2024 · Filed May 9, 2024
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Unregistered Sales of Equity Securitiesand Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Share Repurchase Program
On November 2, 2022, our Board of Directors approved a share repurchase program under which the Company is authorized to repurchase up to $500 million of its outstanding common stock. As of March 30, 2024, there was approximately $179 million in remaining funds authorized under this program. For the 13 weeks ended March 30, 2024 the Company repurchased 283,988 shares at an aggregate purchase price of approximately $13 million under the program.
The following table summarizes repurchases of US Foods common stock for the three periods ended March 30, 2024:
| Period (Millions of dollars, except number and price per share) | Total Number of Shares Purchased | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Program | Approximate Dollar Value of Shares that May Yet Be Purchased Under the Program (1) |
|---|---|---|---|---|
| December 31, 2023 through February 3, 2024 | 283,988 | $45.70 | 283,988 | $179 |
| February 4, 2024 through March 2, 2024 | — | — | — | 179 |
| March 3, 2024 through March 30, 2024 | — | — | — | 179 |
| Quarter-to-date Total | 283,988 | $45.70 | 283,988 |
1 The size and timing of any repurchases will depend on a number of factors, including share price, general business and market conditions and other factors. Under the share repurchase program, repurchases can be made from time to time using a variety of methods, including open market purchases, privately negotiated transactions, accelerated share repurchases and Rule 10b5-1 trading plans. The share repurchase program does not obligate the Company to acquire any particular amount of shares, and the repurchase program may be suspended or discontinued at any time at the Company’s discretion. The repurchase authorization does not have an expiration date.
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