Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
Sales of Unregistered Securities
None.
Issuer Purchases of Equity Securities
During the three months ended June 30, 2020, in connection with our Dividend Reinvestment Plan for our common stockholders, we directed the plan administrator to purchase 24,431 shares of our common stock for an aggregate of $186,448 in the open market in order to satisfy our obligations to deliver shares of common stock to our stockholders with respect to our dividend declared on April 30, 2020.
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On February 27, 2020, our Board approved the 2020 Share Repurchase Program for the purposes of repurchasing shares of our common stock in the open market. During the three months ended June 30, 2020, we repurchased a total of 327,069 shares of our common stock in the open market under the 2020 Share Repurchase Program for an aggregate of $2.3 million, including broker commissions.
The following chart summarizes repurchases of our common stock for the three months ended June 30, 2020:
Period Total number of shares purchased (1)
Average price paid per share Total number of
shares purchased
as part of publicly
announced plans
or programs Approximate dollar value of shares that
may yet be
purchased under the plans or programs
April 1 through April 30, 2020 327,069 (2) $ 7.17 327,069 $ 9,859,393
May 1 through May 31, 2020 — $ — — $ 11,317,884
June 1 through June 30, 2020 24,431 (3) $ 7.63 — $ 11,464,736 (4)
(1) Includes purchases of our common stock made on the open market by or on behalf of any “affiliated purchaser,” as defined in Exchange Act Rule 10b-18(a)(3), of the Company.
(2) Includes 327,069 shares repurchased under the 2020 Share Repurchase Program
(3) Includes 24,431 shares purchased in the open market pursuant to the terms of our dividend reinvestment plan.
(4) Based on the total maximum remaining number of shares that could be repurchased under the 2020 Share Repurchase Program as of June 30, 2020 of 1,443,921 and assuming a purchase price of $7.94, which was the closing price of our common stock on the NYSE on June 30, 2020.
Item 3. Defaults Upon Senior Securities.
None.
Item 4. Mine Safety Disclosures.
Not applicable.
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