COMMON STOCK

6 Months Ended

Jun. 30, 2021

COMMON STOCK

Share Repurchase Plan

In June 2018, the Board of Directors of Altice USA authorized a share repurchase program of $2,000,000, and on July 30, 2019, the Board of Directors authorized a new incremental three-year share repurchase program of $5,000,000 that took effect following the completion in August 2019 of the $2,000,000 repurchase program. In November 2020, the Board of Directors authorized an additional incremental $2,000,000 of share repurchases bringing the total amount of cumulative share repurchases authorized to $9,000,000. Under these repurchase programs, shares of Altice USA Class A common stock may be purchased from time to time in the open market and may include trading plans entered into with one or more brokerage firms in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934. Size and timing of these purchases will be determined based on market conditions and other factors.

For the six months ended June 30, 2021, Altice USA repurchased an aggregate of 21,000,949 shares for a total purchase price of approximately $725,518. From inception through June 30, 2021, Altice USA repurchased an aggregate of 282,914,994 shares for a total purchase price of approximately $7,729,288. These acquired shares were retired and the cost of these shares was recorded in stockholders' deficiency in the consolidated balance sheet of Altice USA. As of June 30, 2021, Altice USA had approximately $1,270,712 of availability remaining under the incremental share repurchase program and had 457,080,367 combined Class A and Class B shares outstanding.

Common Stock of Altice USA

The following table provides details of Altice USA's shares of common stock outstanding:


	Shares of Common Stock Outstanding
	Class A Common Stock	Class B Common Stock
Balance at December 31, 2020	290,573,672	185,895,903
Conversion of Class B common stock to Class A common stock	99,678	(99,678)

Option exercises	918,764	—
Repurchase and retirement of Class A common shares in connection with the Company's share repurchase plan (discussed above)	(21,000,949)	—
Treasury shares reissued	692,977	—
Balance at June 30, 2021	271,284,142	185,796,225