Item 2. Unregistered Sales of Equity Securities
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
Purchase of Equity Securities by the Issuer and Affiliated Purchasers
On July 28, 2022, our board of directors authorized the repurchase of an additional 1.5 million shares of our common stock. This increase was in addition to the remaining authorized shares under our prior common stock repurchase program that was authorized on February 25, 2015 (the Program). Share repurchases may be made on an opportunistic basis, through open market transactions, privately negotiated transactions, or by other means in accordance with applicable federal securities laws. We are not obligated to purchase any shares and there is no set date that the Program will expire. Our board of directors may increase or decrease the number of shares under the Program or terminate the Program in its discretion at any time. During first quarter 2023, we repurchased 24,727 shares under the Program at a cost of $1.5 million, or an average of $59.91 per share. Set forth below is information regarding the Company's share repurchases during the first quarter ended March 31, 2023.
Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs The Maximum Number of Shares That May Yet Be Purchased Under the Plans or Programs
January 1, 2023 - January 31, 2023 — $ — — 1,996,989
February 1, 2023 - February 28, 2023 — — — 1,996,989
March 1, 2023 - March 31, 2023 24,727 59.91 24,727 1,972,262
Total 24,727 $ 59.91 24,727 1,972,262
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None.
ITEM 4. MINE SAFETY DISCLOSURES
Not applicable.
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