Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Share Repurchase Program
The following sets forth information with respect to our repurchases of shares of Class A Common Stock during the three months ended March 31, 2025:
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| Period | | Total number of shares purchased | | Average price paid per share (2) | | Total number of shares purchased as part of publicly announced plans or programs (1) | | Approximate dollar value of shares that may yet be purchased under the plans or programs (1) |
| January 1, 2025 - January 31, 2025 | | — | | | $ | — | | | — | | | $ | 294,191,766 | |
| February 1, 2025 - February 28, 2025 | | 270,131 | | | $ | 17.34 | | | 270,131 | | | $ | 289,507,608 | |
| March 1, 2025 - March 31, 2025 | | 1,276,007 | | | $ | 15.10 | | | 1,276,007 | | | $ | 270,233,835 | |
| Total | | 1,546,138 | | | $ | 15.50 | | | 1,546,138 | | | $ | 270,233,835 | |
(1) On July 25, 2022, the Board authorized and the Company announced a share repurchase program that allowed the Company to repurchase up to $250.0 million of the Company’s Class A Common Stock beginning immediately and continuing through July 31, 2024. Additionally, on January 24, 2023 the Board authorized and the Company announced an increase of the cumulative repurchase authorization to $500.0 million. Furthermore, on January 23, 2024, the Board authorized and the Company announced an increase of the cumulative repurchase authorization to $750.0 million and extended the authorization through July 31, 2026. Shares may be repurchased from time to time for cash in open market transactions, through block trades, in privately negotiated transactions, through derivative transactions, or by other means in accordance with applicable federal securities laws. The timing and the amount of repurchases will be determined by the Company at its discretion based on an evaluation of market conditions, capital allocation alternatives and other factors. The share repurchase program does not require us to purchase any dollar amount or number of shares of our Class A Common Stock and may be modified, suspended, extended or terminated at any time without prior notice. The Company expects to fund any repurchases by using cash on hand, borrowings under the ABL Facility, and expected free cash flow to be generated through the duration of the share repurchase program.
(2) The average price paid per share of $15.50 was calculated including commissions.
