AVIAT NETWORKS, INC. 10-Q

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds During the second quarter of fiscal 2022 we completed the $7.5 million stock repurchase program approved by our board of directors in May 2018 by purchasing 60,895 shares of our common stock in the open market for an aggregate purchase price, including commissions, of $1.9 million. These shares were recorded as treasury stock and we do not anticipate retiring them. In November 2021 our board of directors approved a stock repurchase program to purchase up to $10.0 million of our common stock. As of December 31, 2021, $10.0 million remains available under the stock repurchase program, and we may choose to suspend or discontinue the repurchase program at any time. Following is a summary of stock repurchases for the three months ended December 31, 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)(2) (in thousands) October 2, 2021 through October 29, 2021 5,900 $ 34.03 5,900 $ 1,714 October 30, 2021 through November 26, 2021 54,995 $ 31.07 54,995 $ 6 November 27, 2021 through December 31, 2021 — $ — — $ 10,000 Total 60,895 (1) 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 May 2018 program has been completed and no amount remains available under the program. (2) In November 2021, our board of directors approved a stock repurchase program, which does not have an expiration date, for the repurchase of up to $10.0 million of our common stock. 34 Item 3. Defaults Upon Senior Securities Not applicable. Item 4. Mine Safety Disclosures Not applicable.