Item 2. Unregistered Sales of Equity Securities
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
Purchases of Equity Securities by the Issuer
On December 5, 2017, our board of directors reapproved the stock repurchase program pursuant to which the board of directors granted a repurchase authorization to acquire shares of the Company’s common stock, par value $0.01 per share having an aggregate value of up to $50 million. The board of director’s authorization replaced any previous repurchase authorizations. No shares were repurchased during the three months ended March 31, 2022, pursuant to this authorization.
The following table provides the information with respect to purchases and forfeitures of our common stock during each of the months in the first quarter of 2022:
Period Total Number of Shares Purchased Average Price Paid Per Share Total Number of Shares Purchased as Part of a Publicly Announced Plan Maximum Dollar Value of Shares That May Yet Be Purchased Under the Plan
Common stock:
January 1 to January 31 656 $ — (2)
— $ 50,000,000
February 1 to February 28 16,257 (1)
$ 5.96 — $ 50,000,000
March 1 to March 31 78,758 (1)
$ 5.88 (2)
— $ 50,000,000
Total 95,671 $ 5.89 —
__________________
(1) Includes 16,257 and 77,521 shares in February and March, respectively, that were withheld to cover tax-withholding requirements related to the vesting of restricted shares of our common stock issued to employees of our advisor pursuant to the Company’s stockholder-approved stock incentive plan.
(2) There is no cost associated with the forfeiture of 656 and 1,237 restricted shares of our common stock in January and March, respectively.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None.
ITEM 4. MINE SAFETY DISCLOSURES
None.
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