Item 2. Unregistered Sales of Equity Securities
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 June 30, 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
April 1, 2023 - April 30, 2023
679,607
$
16.84
679,607
617,308
May 1, 2023 - May 31, 2023
175,794
16.32
175,794
441,514
June 1, 2023 - June 30, 2023
307,554
16.90
307,554
133,960
1,162,955
$
16.71
1,162,955
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 was authorized to repurchase up to five percent of its common stock, or approximately 645,000 shares. In April 2023, the Company’s Board of Directors approved a seventh stock repurchase program, which commenced 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 specific number of shares.
Item 3. Defaults Upon Senior Securities
Not applicable.
Item 4. Mine Safety Disclosures
Not applicable.
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