Item 2. Unregistered Sales of Equity Securities
ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds
The following table provides information about purchases of our common shares during the three months ended March 31, 2025.
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 be purchased under the plans or programs
January 1, 2025 - January 31, 2025 — $ — — 153,092
February 1, 2025 - February 28, 2025 23,921 (2) $ 26.96 (3) — —
March 1, 2025 - March 31, 2025 153,092 (1) $ 21.75 153,092 —
Total 177,013 $ 21.75 153,092 —
(1) In September 2024, our Board authorized the repurchase of up to 5% of our total common shares which were issued and outstanding, or 710,556 common shares (the Share Repurchase Program). In March 2025, our Board authorized an increase to the Share Repurchase Program to repurchase up to 10.0% of our total common shares which are issued and outstanding at that date, and in April 2025, our Board authorized a further increase to repurchase up to 20% of our total common shares which are issued and outstanding at that date, or approximately 2,690,000 common shares. Under the Share Repurchase Program, we may repurchase shares through a variety of methods, including but not limited to open market repurchases, pursuant to a Rule 10b5‑1 compliant plan, or privately negotiated transactions. The Share Repurchase Program does not expire. We repurchased an aggregate of 153,092 of our common shares outstanding for approximately $3.3 million under the 2024 Share Repurchase Program during the three months ended March 31, 2025.
(2) Consists of shares surrendered to us by participants in our 2014 Equity Participation Plan to settle the participants' personal tax liabilities that resulted from the lapsing of restrictions on shares awarded to the participants under the plan.
(3) The price paid per share was based on the closing price of our common shares on February 25, 2025, the respective date as of which the restrictions lapsed on such shares.
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.