Company: ALGN
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001097149-25-000034
Chunk: 137

Company: ALIGN TECHNOLOGY INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 137
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 1.8 years.Employee Stock Purchase PlanAs of March 31, 2025, we have 1,800,725 shares available for future issuance under the Align Technology, Inc. 2010 Employee Stock Purchase Plan (as amended and restated, the “2010 Purchase Plan”).

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The fair value of the option component of the 2010 Purchase Plan shares was estimated at the grant date using the Black-Scholes option pricing model with the following weighted average assumptions: Three Months EndedMarch 31, 20252024Expected term (in years)1.10.9Expected volatility40.9 %56.0 %Risk-free interest rate4.2 %4.8 %Expected dividends— — Weighted average fair value at grant date$70.62 $100.10 As of March 31, 2025, we expect to recognize $13.4 million of total unamortized compensation costs related to future employee stock purchases over a weighted average period of 0.9 years.

Note 10. Common Stock Repurchase Programs

In January 2023, our Board of Directors authorized a plan to repurchase up to $1.0 billion of our common stock (“January 2023 Repurchase Program”). The January 2023 Repurchase Program does not have an expiration date.The following tables summarize the total repurchases of our common stock pursuant to Accelerated Share Repurchase (“ASR”) agreements and open market common stock repurchases under the January 2023 Repurchase Program:Accelerated Share Repurchase AgreementsAgreement DateRepurchase ProgramAmount Paid (in millions)CompletionDateTotal SharesReceivedAverage Price per ShareQ4 2023January 2023$250.0 Q1 20241,086,334 $230.13 Open Market Common Stock RepurchasesAgreement DateRepurchase ProgramAmount Paid (in millions)CompletionDateTotal SharesReceivedAverage Price per ShareQ4 2023January 2023$100.0 Q4 2023465,518 $214.81 Q2 2024January 2023$150.0 Q2 2024598,302 $250.73 Q4 2024January 2023$275.0 Q1 20251,241,509 $221.50 Q1 2025January 2023$129.0 N/A175