Which explanation best describes the repurchase activities of the company over time?

Group of answer choices

The company repurchases shares to be held in treasury in order to fund its stock compensation plans.

The eompany is repurchasing shares to provide a return of capital to investors.

The company returns capital to investors primarily through dividends, but has also repurchased shares over the past $3$ years.

The company believes its shares are undervalued and therefore is repurchasing shares to prop up the stock price.