Anika Therapeutics, Inc. 10-Q

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS   Issuer Purchases of Equity Securities   Under our equity compensation plans, and subject to the specific approval of the Compensation Committee of our Board of Directors, grantees have the option of electing to satisfy tax withholding obligations at the time of vesting or exercise by allowing us to withhold shares of stock otherwise issuable to the grantee. During the three-month period ended September 30, 2023, there were no shares withheld to satisfy grantee tax withholding obligations on restricted stock award vesting events.   Following is a summary of stock repurchases for the three-month period ended September 30, 2023 (in thousands, except share and per share data):   Period   Total Number of Shares Withheld (1)     Average Price per Share     Maximum Number (or Approximate Dollar Value) of Shares that May Yet be Purchased Under the Plans or Programs   July 1 to 31, 2023     29,046     $ 26.59     $ 20,000   August 1 to 31, 2023     0     $ -     $ 15,000   September 1 to 30, 2023     0     $ -     $ 15,000   Total     29,046                     (1) In April 2023, we agreed to establish a share repurchase program for an aggregate purchase price of $20.0 million. Of the $20.0 million, the first $5.0 million is to be effected through an accelerated stock repurchase program, the second $5.0 million is to be purchased in the open market and the remaining $10.0 million is to be purchased in the open market subject to positive cash flow. On May 12, 2023 the Company entered into an accelerated share repurchase agreement with Bank of America, N.A. (“Bank of America”) pursuant to a Fixed Dollar Accelerated Share Repurchase Transaction (“ASR Agreement”) to purchase $5.0 million of shares of its common stock. During the second quarter of 2023, 158,983 shares were delivered to us, constituting the initial delivery of shares and representing 80% of the then estimated total number of shares expected to be repurchased under the ASR Agreement. In July 2023, the Company received the remaining 29,046 additional shares at a final settlement price based on the average purchase price of $26.59 per share.