Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
Recent Sales of Unregistered Securities
On January 10, 2023, we granted an aggregate of 1,956 shares of our restricted Class T common stock to two of our independent directors pursuant to the AHR Incentive Plan in connection with their initial election as independent directors to our board. Such shares of restricted stock were issued in transactions exempt from registration pursuant to Section 4(a)(2) of the Securities Act and vest on June 15, 2023.
Purchase of Equity Securities by the Issuer and Affiliated Purchasers
Share Repurchase Plan
Our share repurchase plan allowed for repurchases of shares of our common stock by us when certain criteria were met. Share repurchases were made at the sole discretion of our board. Funds for the repurchase of shares of our common stock originated exclusively from the cumulative proceeds we received from the sale of shares of our common stock pursuant to our DRIP offerings. On November 14, 2022, our board suspended our share repurchase plan with respect to all repurchase requests, including repurchases resulting from the death or qualifying disability of stockholders, beginning with share repurchases for the quarter ending December 31, 2022. See Note 13, Equity — Share Repurchase Plan, to our accompanying condensed consolidated financial statements.
During the three months ended March 31, 2023, we repurchased shares of our common stock pursuant to our share repurchase plan, as follows:
Period
Total Number of
Shares Purchased
Average Price
Paid per Share
Total Number of Shares
Purchased As Part of
Publicly Announced
Plan or Program
Maximum Approximate
Dollar Value
of Shares that May
Yet Be Purchased
Under the
Plans or Programs
January 1, 2023 to January 31, 2023 — $ — — (1)
February 1, 2023 to February 28, 2023 — $ — — (1)
March 1, 2023 to March 31, 2023(2) 1,681 $ 37.16 1,681 (1)
Total 1,681 $ 37.16 1,681
___________
(1) A description of the maximum number of shares that may be purchased under our share repurchase plan is included in Note 13, Equity — Share Repurchase Plan, to our accompanying condensed consolidated financial statements.
(2) Due to an administrative delay, certain repurchase requests that were submitted in good order prior to the suspension of our share repurchase plan were processed after the suspension of our share repurchase plan.
AHR Incentive Plan
In January 2023, we repurchased 429 shares of our common stock, for $16,000, at a repurchase price of $37.16 per share in order to satisfy minimum statutory withholding tax obligations associated with the vesting of restricted stock awards issued pursuant to the AHR Incentive Plan.
Item 3. Defaults Upon Senior Securities.
None.
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Item 4. Mine Safety Disclosures.
Not applicable.
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.