DuPont de Nemours Inc
For the period ended Mar 31, 2024. Filed May 1, 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 1, 2024
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Unregistered Sales of Equity Securities and Use of Proceeds
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES, USE OF PROCEEDS AND ISSUER PURCHASES OF EQUITY SECURITIES
Issuer Purchases of Equity Securities
In November 2022, DuPont’s Board of Directors approved a share repurchase program authorizing the repurchase and retirement of up to $5 billion of common stock (the “$5B Share Buyback Program"). In the first quarter 2024, the Company’s Board of Directors approved a new share repurchase program authorizing the repurchase and retirement of up to $1 billion of common stock (“the $1B Share Buyback Program”).
The following table provides information regarding purchases of the Company’s common stock by the Company during the three months ended March 31, 2024:
| Issuer Purchases of Equity Securities · Total number of shares purchased as part of the Company's publicly announced share repurchase program · Approximate dollar value of shares that may yet be purchased under the Company's publicly announced sharerepurchase program (In millions) | ||||
|---|---|---|---|---|
| Period · Total number of shares purchased · Average price paid per share | ||||
| $5B Share Buyback Program | ||||
| January 1 | 6,681,016 | $71.76 | 6,681,016 | $— |
| February | — | — | — | — |
| March | — | $— | — | — |
| First Quarter 2024 | 6,681,016 | $71.76 | 6,681,016 | $— |
| $1B Share Buyback Program | ||||
| January | — | $— | — | $— |
| February 2 | 5,961,252 | 67.10 | 5,961,252 | 500 |
| March | — | $— | — | 500 |
| First Quarter 2024 | 5,961,252 | $67.10 | 5,961,252 | $500 |
In September 2023, DuPont entered into accelerated share repurchase agreements (the "$2B ASR Transaction") with each of three financial institutions to repurchase an aggregate of $2 billion of common stock, under the $5B Share Buyback Program. On September 8, 2023, DuPont received initial deliveries of 21.2 million shares of common stock in the aggregate. On January 19, 22 and 23, 2024, the final 6.7 million shares were received and retired for a total of 27.9 million shares based on the volume-weighted average stock price for DuPont common stock during the terms of the $2B ASR Transaction, less an agreed upon discount. See Note 16 to the interim Consolidated Financial Statements for additional information.
In February 2024, DuPont entered into accelerated share repurchase agreements (the "Q1 24 ASR Transaction") with a financial institution to repurchase an aggregate of $500 million of common stock, under the $1B Share Buyback Program. On February 9, 2024, DuPont received initial deliveries of 6.0 million shares of common stock in the aggregate. See Note 16 to the interim Consolidated Financial Statements for additional information.
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