Stockholders’ Equity

9 Months Ended

Sep. 30, 2024

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, 2024, the remaining share repurchase authorization was $146.6 million under the repurchase program.

During the three and nine months ended September 30, 2024, Kemper repurchased and retired approximately 400,000 shares of its common stock under its share repurchase authorization for an aggregate cost of $25.0 million and an average cost per share of $61.21. Kemper did not repurchase any shares during the three and nine months ended September 30, 2023.

Employee Stock Purchase Plan

During the three months ended September 30, 2024 and 2023, the Company issued 14,000 and 24,000 shares under the Kemper Employee Stock Purchase Plan (“ESPP”) at a discounted price of $52.06 and $35.73 per share, respectively. Compensation costs charged against income were $0.1 million and $0.2 million during the three months ended September 30, 2024 and 2023, respectively.

During the nine months ended September 30, 2024 and 2023, the Company issued 47,000 and 68,000 shares under the Kemper ESPP, respectively, at an average discounted price of $51.61 and $40.61 per share. Compensation costs charged against income were $0.4 million and $0.5 million for the nine months ended September 30, 2024 and 2023, respectively.