v3.22.2.2
Stockholders' Equity
 9 Months Ended
Sep. 30, 2022
Equity [Abstract]  
Stockholders' Equity Stockholders’ Equity
During the nine months ended September 30, 2022 and 2021, we issued an aggregate of 483,385 and 931,749 shares of common stock, respectively, in connection with the exercises of stock options at a weighted average exercise price of $18.45 and $13.81 per share, respectively, for net proceeds of approximately $8.9 million and $12.9 million, respectively. For the nine months ended September 30, 2022 and 2021, we issued 252,063 and 297,696 shares of common stock, respectively, upon vesting of certain RSUs and PSUs for which 68,425 and 94,795 RSUs were withheld from the RSU holders, respectively, to pay for minimum withholding taxes totaling approximately $4.3 million and $8.2 million, respectively. Stock options and unvested restricted units totaling approximately 6.8 million shares and 5.9 million shares of our common stock were outstanding as of September 30, 2022 and December 31, 2021, respectively.
Share Repurchases
In November 2019, we announced that the Board of Directors has authorized the initiation of a capital return program to repurchase up to $550.0 million of outstanding common stock over a three-year period. During 2020, we repurchased 6.5 million shares of common stock for $150.0 million at an average price of $23.05. During 2021, we repurchased 4.6 million shares of common stock for $200.0 million at an average price of $43.02 under the program. The shares were purchased through open market transactions and through an Accelerated Share Repurchase (“ASR”) agreement. The $550.0 million share repurchase program was completed in October 2021 having repurchased a total of 22.3 million shares at an average price of $24.72.
In December 2021, the Board of Directors authorized a second capital return program to repurchase up to $750.0 million of outstanding stock over a three-year period. Also in December 2021, as part of the second capital return program, we entered into an ASR agreement to repurchase $150.0 million of common stock. At inception pursuant to the agreement, we paid $150.0 million to Bank of America and took initial delivery of 3.5 million shares. In June 2022, we finalized the transaction and received an additional 0.4 million shares.
In August 2022, concurrent with the sale of 2028 Convertible Notes and the 2022 Induced Conversion, we repurchased 2.1 million shares of common stock in open market purchases for $90.2 million. Also, in August 2022, we entered into an ASR agreement with Bank of America to repurchase $109.8 million of our common stock. At inception, pursuant to the agreement, we paid $109.8 million to Bank of America and took an initial delivery of 2.0 million shares. We retired the repurchased shares, and they resumed the status of authorized and unissued shares.
We had the following activity under the approved share repurchase programs (dollars in thousands, except share and per share data):
2022
Total Number of Shares PurchasedWeighted Average Price paid Per Share
Total Cost(1)
First quarter— — — 
Second quarter— — — 
Third quarter2,093,584 $43.09 $90,207 
2,093,584 $43.09 $90,207 
Accelerated share repurchase(2)
2,025,000 $109,793 

(1) Included in the total cost of shares purchased is a commission fee of $0.02 per share.
(2) Purchased through an ASR agreement with Bank of America in August 2022.