Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
In May 2018, our board of directors approved a stock repurchase program, which does not have an expiration date, for the repurchase of up to $7.5 million of our common stock. The repurchase program has been suspended temporarily since February 2020 to February 2021. During the third quarter of fiscal 2021, our Board of Directors voted to re-instate our stock repurchase program and repurchased 8,300 shares of our common stock in the open market for an aggregate purchase price, including commissions, of $0.5 million. These shares were recorded as treasury stock and we do not anticipate retiring them. Treasury stock did not participate in the two-for-one stock split in the form of a stock dividend paid on April 7, 2021. As of April 2, 2021, $3.0 million remained available under our stock repurchase program.
Following is a summary of stock repurchases for the three months ended April 2, 2021:
Period Total Number of Shares Repurchased Average Price Paid per Share Total Number of Shares Repurchased as Part of Publicly Announced Program Approximate Dollar Value of Shares that May Yet be Repurchased Under the Program (1)
(in thousands)
January 2, 2021 through January 29,2021 — $ — — $ 3,414
January 30, 2021 through February 26, 2021 2,100 $ 59.80 2,100 $ 3,288
February 27, 2021 through April 2, 2021 6,200 $ 53.68 6,200 $ 2,956
Total 8,300
(1) Stock Repurchase Programs
Item 3. Defaults upon Senior Securities
Not applicable.
Item 4. Mine Safety Disclosures
Not applicable.
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