Company: AOS
Filing Date: 2025-07-24
Form Type: 10-Q
Source: 0000091142-25-000100
Chunk: 6

Company: SMITH A O CORP
Filing Date: 2025-07-24
Form: 10-Q
Item: Part II, Item 2
Chunk 6
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ITEM 2 - UNREGISTERED SALES OF EQUITY SECURITIES, USE OF PROCEEDS, AND ISSUER PURCHASES OF EQUITY SECURITIES 

In the first quarter of 2025, our Board of Directors approved adding 5,000,000 shares of common stock to the existing discretionary share repurchase authority. Under the share repurchase program, the Common Stock may be purchased through a combination of Rule 10b5-1 automatic trading plan and discretionary purchases in accordance with applicable securities laws. The number of shares purchased and the timing of the purchases will depend on a number of factors, including share price, trading volume and general market conditions, as well as working capital requirements, general business conditions and other factors, including alternative investment opportunities. The stock repurchase authorization remains effective until terminated by our Board of Directors which may occur at any time, subject to the parameters of any Rule 10b5-1 automatic trading plan that we may then have in effect. In the second quarter of 2025, we repurchased 1,991,379 shares at an average price of $65.64 per share and at a total cost of $130.7 million. As of June 30, 2025, there were 2,960,052 shares remaining on the existing repurchase authorization.

ISSUER PURCHASES OF EQUITY SECURITIESPeriodTotal Number of Shares PurchasedAverage Price Paid per ShareTotal Number of Shares Purchased as Part of Publicly Announced Plans or ProgramsMaximum Number of Shares that may yet be Purchased Under the Plans or ProgramsApril 1 - April 30, 2025564,851 $63.72 564,851 4,386,580 May 1 - May 31, 2025799,788 68.10 799,788 3,586,792 June 1 - June 30, 2025626,740 64.24 626,740 2,960,052 

The Inflation Reduction Act of 2022, which was enacted into law on August 16, 2022, imposed a nondeductible 1% excise tax on the net value of certain stock repurchases made after December 31, 2022. All dollar amounts presented exclude such excise taxes, as applicable.

ITEM 5 - OTHER INFORMATION

During the three months ended June 30, 2025, none of our directors or Section 16