|INTERPUBLIC GROUP OF COMPANIES, INC. filed this Form 10-Q on 04/21/2017|
PART II – OTHER INFORMATION
Information about our legal proceedings is set forth in Note 11 to the unaudited Consolidated Financial Statements included in this Quarterly Report on Form 10-Q.
In the first quarter of 2017, there have been no material changes in the risk factors we have previously disclosed in Item 1A, Risk Factors, in our 2016 Annual Report on Form 10-K.
Unregistered Sales of Equity Securities and Use of Proceeds
The following table provides information regarding our purchases of our equity securities during the period from January 1, 2017 to March 31, 2017:
Total Number of
Shares (or Units)
Average Price Paid
per Share (or Unit) 2
Total Number of Shares (or Units) Purchased as Part of
Plans or Programs 3
Maximum Number (or Approximate Dollar Value) of Shares (or Units) that May Yet Be Purchased Under the Plans or Programs 3
January 1 - 31
February 1 - 28
March 1 - 31
Included shares of our common stock, par value $0.10 per share, withheld under the terms of grants under employee stock-based compensation plans to offset tax withholding obligations that arose upon vesting and release of restricted shares (the “Withheld Shares”). We repurchased 7,115 Withheld Shares in January 2017, 1,543,945 Withheld Shares in February 2017 and 538 Withheld Shares in March 2017, for a total of 1,551,598 Withheld Shares during the three-month period.
The average price per share for each of the months in the fiscal quarter and for the three month period was calculated by dividing (a) the sum for the applicable period of the aggregate value of the tax withholding obligations and the aggregate amount we paid for shares acquired under our share repurchase programs, described in Note 4 to the unaudited Consolidated Financial Statements, by (b) the sum of the number of Withheld Shares and the number of shares acquired in our share repurchase programs.
On February 10, 2017, we announced that our Board of Directors had approved a new share repurchase program to repurchase from time to time up to $300.0 million of our common stock, in addition to amounts available on existing authorizations. There is no expiration date associated with the share repurchase programs.
All exhibits required pursuant to Item 601 of Regulation S-K to be filed as part of this report or incorporated herein by reference to other documents are listed in the Index to Exhibits that immediately precedes the exhibits filed with this Report on Form 10-Q and the exhibits transmitted to the Securities and Exchange Commission as part of the electronic filing of this report.