BayCom Corp 10-Q

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds (a) Not applicable. (b) Not applicable. (c) Stock Repurchases. The following table sets forth information with respect to our repurchases of our outstanding common shares during the three months ended March 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 January 1, 2023 - January 31, 2023 129,526 $ 19.32 ​ 129,526 352,266 February 1, 2023 - February 28, 2023 91,300 ​ ​ 19.65 ​ 91,300 260,966 March 1, 2023 - March 31, 2023 202,051 ​ ​ 18.66 ​ 202,051 58,915 ​ 422,877 ​ $ 19.05 ​ 422,877 ​ ​ ​ ​ ​ On October 24, 2022, the Company announced that its Board of Directors approved a sixth stock repurchase program, which commenced in December 2022 following the expiration of the fifth stock repurchase program, pursuant to which the Company is authorized to repurchase up to five percent of its common stock, or approximately 645,000 shares. The existing stock repurchase program will expire on October 24, 2023, unless sooner completed. In April 2023, the Company’s Board of Directors approved a seventh stock repurchase program, to commence following completion of the sixth stock repurchase program, for the repurchase of up to 619,000 shares, or approximately 5.0% of the Company’s outstanding common stock, over a one year period. Purchases under the Company’s stock repurchase programs may be made through open market purchases, privately-negotiated transactions, or otherwise in compliance with Rule 10b-18 under the Securities Exchange Act of 1934. The repurchase programs may be suspended, terminated, or modified at any time for any reason, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity, and other factors deemed appropriate. The Company’s stock repurchase programs do not obligate the Company to purchase any particular number of shares. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Item 3. Defaults Upon Senior Securities Not applicable. 59 Table of Contents Item 4. Mine Safety Disclosures Not applicable.