Company: WCC
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000929008-25-000012
Chunk: 91

Company: WESCO INTERNATIONAL INC
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 8
Chunk 91
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 non-cash stock-based compensation expense for the three months ended March 31, 2025 and 2024, respectively, which is included in selling, general and administrative expenses for such periods. As of March 31, 2025, there was $98.8 million of total unrecognized compensation expense related to unvested stock-based compensation arrangements for all awards previously made, which is expected to be recognized as follows:For the year ending December 31,(In millions)Remaining 2025$35.3 202637.2 202722.8 20283.5 

7. STOCKHOLDERS’ EQUITY

Share RepurchasesOn May 31, 2022, the Company’s Board of Directors adopted a resolution authorizing the repurchase of up to $1 billion of the Company’s common stock and Series A Preferred Stock. The share repurchase authorization has no expiration date and may be modified, suspended, or terminated at any time without prior notice.During the three months ended March 31, 2025, the Company entered into spot repurchase transactions through a broker to purchase 153,228 shares of its common stock in the open market for cash totaling $25.3 million, including excise taxes. Wesco funded the repurchases with available cash and borrowings under its accounts receivable securitization and revolving credit facilities. During the three months ended March 31, 2024, the Company entered into spot repurchase transactions through a broker to purchase 343,147 shares of its common stock in the open market for cash totaling $50.5 million, including excise taxes. Wesco funded the repurchases with available cash and borrowings under its revolving credit facility.

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Table of Contents   WESCO INTERNATIONAL, INC. AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS—(CONTINUED)(unaudited)

DividendsThe Company’s dividends on common stock are declared at the discretion of the Board of Directors. The following table is a summary of cash dividends declared and paid on the Company’s common stock for the three months ended March 31, 2025: Date DeclaredRecord DatePayment DateAmount Per ShareDividend PaymentFebruary 27, 2025March 14, 2025March 31, 2025$0.454 $22.1 millionThe following table is a summary of cash dividends declared and paid on the Company’s