Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equi ty Securities and Use of Proceeds
On October 3, 2022, the Company announced that is has received regulatory approval for the repurchase of up to 556,631 shares of its common stock which was approximately 10% of its then outstanding common stock (excluding shares held by Bogota Financial, MHC). On May 5, 2023, the Company announced the completion of the repurchase program.
On May 24, 2023, the Company announced it had received regulatory approval for the repurchase of up to 249,920 shares of its common stock, which was approximately 5% of its then outstanding common stock (excluding shares held by Bogota Financial, MHC). The program does not have a scheduled expiration date and the Board of Directors has the right to suspend or discontinue the program at any time. As of June 30, 2023, 20,300 shares have been repurchased at a cost of $165,000.
The following table provides information on repurchases by the Company of its common stock under the Company's Board approved programs for the second quarter:
ISSUER PURCHASES OF EQUITY SECURITIES
Period
Total Number of Shares Purchased
Average Price Paid per Share
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs
Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs
April 1 - 30, 2023
65,199
$
9.75
65,199
5,800
May 1 - 31, 2023
8,000
8.02
8,000
246,320
June 1 - 30, 2023
16,700
8.11
16,700
229,620
Total
89,899
$
9.29
89,899
Item 3. Defaults Upon Senior Securities
None.
Item 4. Mine Saf ety Disclosures
Not applicable.
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.