BayCom Corp 10-Q

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds (a) Not applicable. (b) Not applicable. (c) Stock Repurchases. Under the Company’s fifth stock repurchase program, which was approved by the Company’s board of directors in December 2021, the Company was authorized to repurchase up to 747,000 shares, or approximately 7.0%, of its then outstanding shares from time to time through open market purchases, privately-negotiated transactions, pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission or otherwise in compliance with Rule 10b-18 under the Securities Exchange Act of 1934. In October 2022, our Board of Directors approved a sixth stock repurchase program to commence following completion of the fifth stock repurchase program for the repurchase of up to 645,000 shares, or approximately 5.0%, of the Company’s outstanding common stock, over a one year period through open market purchases, privately-negotiated transactions, or otherwise in compliance with Rule 10b-18 under the Securities Exchange Act of 1934. The actual timing, number and value of shares repurchased under the stock repurchase program will depend on a number of factors, including constraints specified pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission, price and market conditions, and alternative investment opportunities. The stock repurchase program does not obligate the Company to acquire any specific number of shares in any period, and may be expanded, extended, modified or discontinued at any time . The following table sets forth information with respect to our repurchases of our outstanding common shares during the three months ended September 30, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total number of ​ ​ ​ Total ​ ​ Average ​ shares purchased ​ Maximum number of ​ ​ number of ​ ​ price ​ as part of ​ shares that September yet be ​ ​ shares ​ ​ paid ​ publicly announced ​ purchased under the ​ ​ purchased ​ ​ per share ​ plans or programs ​ plans or programs July 1, 2022 - July 31, 2022 115,501 $ 20.08 ​ 115,501 364,810 August 1, 2022 - August 31, 2022 132,800 ​ ​ 19.32 ​ 132,800 232,010 September 1, 2022 - September 30, 2022 158,233 ​ ​ 18.60 ​ 158,233 73,777 ​ 406,534 ​ $ 19.14 ​ 406,534 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Item 3. Defaults of Senior Securities Not applicable. 61 Table of Contents Item 4. Mine Safety Disclosures Not applicable.