Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
The following table provides information with respect to purchases made by or on behalf of the Company or any “affiliated purchaser” (as defined in Rule 10b-18(a)(3) under the Securities Exchange Act of 1934), of the Company’s common stock during the three months ended September 30, 2023.
Maximum
(1
)
Number of Shares
Total Number of
That May Yet Be
Shares Purchased
Purchased Under
Total Number of
Average Price
as Part of Publicly
the Plan at the
Period
Shares Purchased
Paid Per Share
Announced Plan
End of the Period
July 1, 2023 to July 31, 2023
—
$
—
—
500,486
August 1, 2023 to August 31, 2023
—
—
—
500,486
September 1, 2023 to September 30, 2023
20,702
87.88
20,702
479,784
(1) In November 1999, the Company adopted the Stock Repurchase Program (the “SRP”), as a means to increase earnings per share and return on equity. In addition, the SRP may be used to purchase treasury stock for the exercise of stock options or for distributions under the Deferred Stock Compensation Plan, to provide liquidity for optionees to dispose of stock from exercises of their stock options and to provide liquidity for stockholders wishing to sell their stock. The timing, price and amount of stock repurchases under the SRP are determined by management and subject to approval by the Company’s Executive Committee.
Item 3. Defaults Upon Senior Securities.
None.
Item 4. Mine Safety Disclosures.
None.
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.