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Stockholders' Equity | 6 Months Ended
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Jun. 30, 2024
Equity [Abstract] |
Stockholders' Equity | Stockholders’ Equity During the six months ended June 30, 2024 and 2023, we issued an aggregate of 475,828 and 240,223 shares of common stock, respectively, in connection with the exercises of stock options at a weighted average exercise price of $23.90 and $17.66 per share, respectively, for net proceeds of approximately $11.4 million and $4.2 million, respectively. For the six months ended June 30, 2024 and 2023, we issued 331,693 and 318,181 shares of common stock, respectively, upon vesting of certain RSUs and PSUs for which the RSU and PSU holders surrendered 88,825 and 70,733 RSUs and PSUs, respectively, to pay for minimum withholding taxes totaling approximately $6.5 million and $7.0 million, respectively. Stock options and unvested restricted units totaling approximately 8.0 million and 7.8 million shares of our common stock were outstanding as of June 30, 2024 and December 31, 2023, respectively. Share Repurchases In December 2021, the Board of Directors authorized a second capital return program to repurchase up to $750.0 million of outstanding stock over a three-year period. We accelerated the initiation of our planned 2024 share repurchases and in November 2023, we entered into an Accelerated Share Repurchase (“ASR”) agreement with Bank of America, N.A. to accelerate the remaining $250.0 million of share repurchases remaining under the approved capital return program. Pursuant to the agreement, at the inception of the ASR, we paid $250.0 million to Bank of America, N.A. and took initial delivery of 5.5 million shares. In June 2024, we finalized the transaction at an average price per share of $38.35 and received an additional 1.1 million shares. Our December 2021 share repurchase program was completed in June 2024 with a total of 19.1 million shares repurchased over the three-year period at an average price per share of $39.31. All shares repurchased under our capital return programs have been retired and have resumed their status of authorized and unissued shares In February 2024, our Board of Directors authorized a new capital return program to repurchase up to $750.0 million of our outstanding common stock.

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