Company: PRI
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029882
Chunk: 355

Company: Primerica, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1B
Chunk 355
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        Common stock, beginning of period

        34,996

        36,824

        39,368

        Shares of common stock issued upon exercise of stock options

        -

        60

        -

        Shares of common stock issued when sales restrictions on RSUs lapsed and PSUs were earned

        178

        207

        236

        Common stock retired

        (1,806
        )

        (2,095
        )

        (2,780
        )

        Common stock, end of period

        33,368

        34,996

        36,824

       The above table excludes RSUs and PSUs, which do not have voting rights. As sales restrictions on RSUs lapse and PSUs are earned, we issue common shares with voting rights. As of December 31, 2024, we had a total of 215,407 RSUs and director deferred shares outstanding and 58,619 PSUs outstanding. The PSU outstanding balance is based on the number of PSUs granted pursuant to the award agreements; however, the actual number of common shares earned could be higher or lower based on actual versus targeted performance. See Note 16 (Share-Based Transactions) for a discussion of the PSU award structure.On November 16, 2023, our Board authorized a share repurchase program for up to $425.0 million of our outstanding common stock for purchases from November 16, 2023 through December 31, 2024 (the “Share Repurchase Program”). Under the Share Repurchase Program, we repurchased 1,767,682 shares of our common stock in the open market for an aggregate purchase price of $425.0 million through December 31, 2024. There is no remaining authority under the Share Repurchase Program as of December 31, 2024. On November 14, 2024, our Board authorized a new $450.0 million share repurchase program (the “New Share Repurchase Program”) to occur from November 14, 2024 through December 31, 2025. We did not repurchase any shares under the New Share Repurchase Program in 2024.

(15) Earnings Per ShareThe Company has outstanding common stock and equity awards that consist of RSUs and PSUs. All outstanding stock options were exercised during the year ended December 31, 2023. The RSUs maintain non-forfeitable dividend rights that result