Stockholders’ Equity

9 Months Ended

Sep. 30, 2023

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Shareholders’ Equity

Common Stock Repurchases

On May 6, 2020, Kemper’s Board of Directors authorized the repurchase of up to an additional $200.0 million of Kemper’s common stock, in addition to $133.3 million remaining under the August 6, 2014 authorization, bringing the remaining share repurchase authorization to approximately $333.3 million. As of September 30, 2023, the remaining share repurchase authorization was $171.6 million under the repurchase program.

During the nine and three months ended September 30, 2023 and 2022, Kemper did not repurchase any shares of its common stock.

Employee Stock Purchase Plan

During the nine months ended September 30, 2023 and 2022, the Company issued 68,000 and 79,000 shares under the Kemper Employee Stock Purchase Plan (“ESPP”), respectively, at an average discounted price of $40.61 and $40.54 per share. Compensation costs charged against income were $0.5 million and $0.6 million for the nine months ended September 30, 2023 and 2022, respectively.

During the three months ended September 30, 2023 and 2022, the Company issued 24,000 and 31,000 shares under the ESPP at a discounted price of $35.73 and $35.07 per share, respectively. Compensation costs charged against income were $0.2 million and $0.2 million for the three months ended September 30, 2023 and 2022, respectively.