Item 2. Unregistered Sales of Equity Securities
ITEM 2: UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
(c) Stock Repurchases
In September 2016 the Board amended the 2003 Stock Repurchase Plan by authorizing 500,000 shares of common stock for repurchase. All previous share authorized under the 2003 Stock Repurchase Plan, and subsequent amendments had been fully purchased. The 2016 amendment authorizing shares for repurchase does not provide assurance that a specific quantity of shares will be repurchased, and the repurchase program can be suspended at any time at the Board’s and/or Management’s discretion. After a lengthy deferral of repurchase activity, the Company resumed share repurchases in mid-August 2019 through March 2020. There have been no stock repurchase transactions since March 2020. The balance of shares remaining for purchase under the 2003 Stock Repurchase Plan and Amendments was 268,301 at June 30, 2021. The Company continues to evaluate further repurchase activity and whether to resume repurchases in the future.
ITEM 3: DEFAULTS UPON SENIOR SECURITIES
Not applicable
ITEM 4: MINE SAFETY DISCLOSURES
Not applicable
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