Table:
| Period | Total Number of Shares Repurchased (1) | Average Price Paid per Share(2) | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs | Amount Available Under Repurchase Program |
| --- | --- | --- | --- | --- |
|  |  | (in thousands, except per share data) |  |  |
| Available balance as of June 24, 2018 |  |  |  | $1,733,638 |
| Quarter ended September 23, 2018 | 7,821 | $183.46 | 7,807 | 108 |
| Board authorization, $5.0 billion, November  2018 |  |  |  | 5,000,000 |
| Quarter ended December 23, 2018 | 1,693 | $145.30 | 1,683 | 5,000,000 |
| Quarter ended March 31, 2019 | 6,125 | $172.06 | 5,702 | 4,138,494 |
| April 1, 2019 - April 28, 2019 | 3 | $193.52 | — | 4,138,494 |
| April 29, 2019 - May 26, 2019 | 1,147 | $190.89 | 1,143 | 3,920,258 |
| May 27, 2019 - June 30, 2019 | 4,728 | $176.68 | 4,724 | 3,033,500 |
| Total | 21,517 | $181.72 | 21,059 | $ 3,033,500 |
Paragraphs:
Repurchase of Company Shares
In November 2018, the Board of Directors authorized management to repurchase up to an additional $5.0 billion of Common Stock on such terms and conditions as it deems appropriate. These repurchases can be conducted on the open market or as private purchases and may include the use of derivative contracts with large financial institutions, in all cases subject to compliance with applicable law. This repurchase program has no termination date and may be suspended or discontinued at any time. Funding for this share repurchase program may be through a combination of cash on hand, cash generation, and borrowings. As of June 30, 2019, we have purchased approximately $2.0 billion of shares under this authorization, $0.5 billion via open market trading and $1.5 billion utilizing accelerated share repurchase arrangements.
Accelerated Share Repurchase Agreements
On June 4, 2019, we entered into four separate accelerated share repurchase agreements (collectively, the “June 2019 ASR”) with two financial institutions to repurchase a total of $750 million of Common Stock. We took an initial delivery of approximately 3.1 million shares, which represented 75% of the prepayment amount divided by our closing stock price on June 4, 2019. The total number of shares received under the June 2019 ASR will be based upon the average daily volume weighted average price of our Common Stock during the repurchase period, less an agreed upon discount. Final settlement of the June 2019 ASR is anticipated to occur no later than November 20, 2019.
On January 31, 2019, we entered into two separate accelerated share repurchase agreements (collectively, the “January 2019 ASR”) with two financial institutions to repurchase a total of $760 million of Common Stock. We took an initial delivery of approximately 3.3 million shares, which represented 75% of the prepayment amount divided by our closing stock price on January 30, 2019. The total number of shares received under the January 2019 ASR was based upon the average daily volume weighted average price of our Common Stock during the repurchase period, less an agreed upon discount. Final settlement of the agreements occurred during May 2019, resulted in the receipt of approximately 0.8 million additional shares, which yielded a weighted-average share price of approximately $182.32 for the transaction period.
Share repurchases, including those under the repurchase program, were as follows:
(1) During the fiscal year ended June 30, 2019, we acquired 0.5 million shares at a total cost of $80.5 million which we withheld through net share settlements to cover minimum tax withholding obligations upon the vesting of restricted stock unit awards granted under our equity compensation plans. The shares retained by us through these net share settlements are not a part of the Board-authorized repurchase program but instead are authorized under our equity compensation plan.
(2) Average price paid per share excludes effect of accelerated share repurchases, see additional disclosure above regarding our accelerated share repurchase activity during the fiscal year.
Question:
What will the total number of shares received under the June 2019 ASR will be based upon?
Answer: the average daily volume weighted average price of our Common Stock during the repurchase period, less an agreed upon discount