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 7, 2022, our board of directors approved a new stock repurchase program pursuant to which the board 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 $25 million. The Board’s authorization replaced any previous repurchase authorizations.
As of June 30, 2023, we repurchased approximately 5.4 million shares of our common stock for approximately $25.0 million and have completed the $25.0 million repurchase authorization.
The following table provides the information with respect to purchases and forfeitures of our common stock during each of the months in the second quarter of 2023:
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:
April 1 to April 30 485 (1)
$ 3.77 — $ 7
May 1 to May 31 — $ — — $ 7
June 1 to June 30 88 (1)
$ 3.92 — $ 7
Total 573 $ 3.79 —
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(1) Represents 485 and 88 shares in April and June, 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.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None.
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ITEM 4. MINE SAFETY DISCLOSURES
None.
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