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(c) Stock Repurchases
−Removed: In September 2016 the Board amended the 2003 Stock Repurchase Plan by authorizing 500,000 shares of common stock for repurchase.
−Removed: All previous share authorized under the 2003 Stock Repurchase Plan, and subsequent amendments had been fully purchased.
−Removed: 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.
−Removed: After a lengthy deferral of repurchase activity, the Company resumed share repurchases in mid-August 2019 through March 2020.
−Removed: There have been no stock repurchase transactions since March 2020.
−Removed: The balance of shares remaining for purchase under the 2003 Stock Repurchase Plan and Amendments was 268,301 at June 30, 2021.
−Removed: The Company continues to evaluate further repurchase activity and whether to resume repurchases in the future.
+Added: In October 2021 the Board approved the 2021 Share Repurchase Plan by authorizing 1,000,000 shares of common stock for repurchase.
+Added: In conjunction with this action, the Board terminated the current Share Repurchase Plan which authorized 500,000 shares of common stock for repurchase.
+Added: There were 268,301 shares remaining for repurchase under the current Share Repurchase Plan.
+Added: Those remaining shares were rolled into the 2021 Share Repurchase Plan.
+Added: There have been no stock repurchase transactions since March 2020, however under the new 2021 Share Repurchase Plan the Company plans to commence repurchases of shares in the fourth quarter of 2021.
+Added: The following table provides information concerning the Company’s stock repurchase transactions during the third quarter of 2021:
+Added: Stock Repurchases
+Added: July 31, 2021
+Added: August 31, 2021
+Added: September 30, 2021
+Added: Total shares repurchased (1)
+Added: Average per share price
+Added: Number of shares purchased as part of a publicly announced plan or program
+Added: Maximum number of shares remaining for purchase under a plan or program
+Added: (1) These shares relate to the net settlement by employees related to vested, restricted stock awards and do not impact the 268,301 shares available for repurchase under the current repurchase plan.
+Added: Net settlements represent instances where employees elect to satisfy their income tax liability related to the vesting of restricted stock through the surrender of a proportionate number of the vested shares to the Company
DEFAULTS UPON SENIOR SECURITIES
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.