ALPHA & OMEGA SEMICONDUCTOR Ltd 10-Q

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS In September 2017, the Board of Directors approved a repurchase program (the “Repurchase Program”) that allowed us to repurchase our common shares from the open market pursuant to a pre-established Rule 10b5-1 trading plan or through privately negotiated transactions up to an aggregate of $30.0 million. The amount and timing of any repurchases under the Repurchase Program depend on a number of factors, including but not limited to, the trading price, volume and availability of our common shares. There is no guarantee that such repurchases under the Repurchase Program will enhance the value of our shares. Shares repurchased under this program are accounted for as treasury shares and the total cost of shares repurchased is recorded as a reduction of shareholders' equity. As of March 31, 2023, approximately $10.8 million remained available under the Repurchase Program. The following table sets forth the share repurchases under this program during the third fiscal quarter ended March 31, 2023. Period Total Number of Shares (or Units) Purchased Average Price Paid per Share (or Unit) Total Number of Shares (or Units) Purchased as Part of Publicly Announced Plans or Programs Maximum Number (or Approximate Dollar Value) of Shares (or Units) that May Be Purchased Under the Plans or Programs January 1, 2023 to January 31, 2023 — $ — — February 1, 2023 to February 28, 2023 — $ — — March 1, 2023 to March 31, 2023 106,863 $ 24.9 106,863 Total repurchase during the three months ended March 31, 2023 106,863 $ 24.9 106,863 $ 10,770,000 49 ITEM 3. DEFAULTS UPON SENIOR SECURITIES Not applicable. ITEM 4. MINE SAFETY DISCLOSURES Not applicable.