Quarterly report [Sections 13 or 15(d)]

Equity

v3.25.1
Equity
 3 Months Ended
Mar. 31, 2025
Equity [Abstract]  
Equity Equity
Common Stock, par value $0.001 per share
We are authorized to issue up to 900 shares of common stock. There were 339 shares of common stock issued and outstanding at each of March 31, 2025 and December 31, 2024.
As of March 31, 2025, there were 35 shares of common stock reserved for issuance in connection with outstanding stock-based awards to members of our board of directors, employees and third parties.
Sirius XM Holdings equity activity
All share and per share amounts have been adjusted to reflect the conversion of Old Sirius shares into SplitCo common stock on a one-for-ten basis.
Quarterly Dividends
During the three months ended March 31, 2025 and 2024, our board of directors declared and paid the following dividends:
Declaration Date Dividend Per Share Record Date
Total Amount (1)
Payment Date
2025 dividends
January 22, 2025 $ 0.27  February 7, 2025 $ 91  February 25, 2025
2024 dividends
January 24, 2024 $ 0.266  February 9, 2024 $ 102  February 23, 2024
(1)During the three months ended March 31, 2024, we paid dividends of $17 to noncontrolling interests.
Stock Repurchase Program
As of March 31, 2025, our board of directors approved for repurchase an aggregate of $1,166 of our common stock.  The board of directors did not establish an end date for this stock repurchase program.  Shares of common stock may be purchased from time to time on the open market, pursuant to pre-set trading plans meeting the requirements of Rule 10b5-1 under the Exchange Act, in privately negotiated transactions, including in accelerated stock repurchase transactions, or otherwise.  We intend to fund any stock repurchases through a combination of cash on hand, cash generated by operations and future borrowings. The size and timing of any purchases will be based on a number of factors, including price and business and market conditions.
Prior to the closing of the Transactions, the board of directors of Old Sirius had approved the repurchase of an aggregate of $18,000 of its common stock. As of the closing of the Transactions, Old Sirius’s cumulative repurchases since December 2012 under that stock repurchase program totaled 373 shares for $16,834, and $1,166 remained available under that stock repurchase program. The stock repurchase program of Old Sirius was terminated on the closing date of the Transactions.
Following the closing of the Transactions, on September 9, 2024, our board of directors authorized for repurchase an aggregate of $1,166 of our common stock. As of March 31, 2025, our cumulative repurchases since the closing of the Transactions under our stock repurchase program totaled 1,397 thousand shares for $32, of which 1,096 thousand shares were repurchased during the three months ended March 31, 2025 for $25 and $1,135 remained available for additional repurchases under our existing stock repurchase program authorization.
The following table summarizes our total share repurchase activity for the three months ended:
  March 31, 2025 March 31, 2024
Share Repurchase Type
Shares (in thousands)
 Amount
Shares (in thousands)
 Amount
Open Market Repurchases(a)
1,096  $ 25  —  $ — 
(a)As of March 31, 2025, $1 of common stock repurchases had not settled, nor been retired, and were recorded as Treasury stock within our unaudited consolidated balance sheets and unaudited consolidated statement of equity.