|QEP RESOURCES, INC. filed this Form 10-Q on 07/25/2018|
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
On February 28, 2018, QEP announced the authorization by its Board of Directors to repurchase up to $1.25 billion of the Company's outstanding shares of common stock (the February 2018 $1.25 billion Repurchase Program). The timing and amount of any QEP share repurchases will be subject to available liquidity, market conditions and proceeds from the asset sales. The share repurchase program does not obligate QEP to acquire any specific number of shares and may be discontinued at any time.
The following repurchases of QEP shares were made by QEP in association with vested restricted share awards withheld for
taxes and pursuant to the Company's share repurchase authorization.
Total shares purchased(1)(2)
Weighted-average price paid per share
Total shares purchased as part of publicly announced plans or programs
Remaining dollar amount that may be purchased under the plans or programs
April 1, 2018 - April 30, 2018
May 1, 2018 - May 31, 2018
June 1, 2018 - June 30, 2018
During the three months ended June 30, 2018, QEP purchased 102,554 shares from employees in connection with the settlement of income tax and related benefit withholding obligations arising from the vesting of restricted share grants.
During the three months ended June 30, 2018, QEP repurchased and retired 592,310 shares under the February 2018 $1.25 billion Repurchase Program at a weighted average price of $9.37 per share, excluding commission of $0.02 per share, for $5.6 million. Shares are as of the settlement date.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
ITEM 4. MINE SAFETY DISCLOSURES
ITEM 5. OTHER INFORMATION