Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities
and Use of Proceeds
On May 24, 2022, the Board approved a share repurchase
program to purchase up to $40 million of the Company’s common stock (the “Program”). The Program does not obligate the
Company to acquire any specific number of shares and will expire on November 24, 2023, and the Program may be suspended, extended, modified
or discontinued at any time. Under the Program, repurchases can be made using a variety of methods, which may include open market purchases,
block trades, privately negotiated transactions and/or a non-discretionary trading plan, all in compliance with the rules of the SEC and
other applicable legal requirements. The timing, manner, price and amount of any common stock repurchases under the Program are determined
by the Company in its discretion and depend on a variety of factors, including legal requirements, price and economic and market conditions.
No shares were repurchased during the three months ended September 30, 2022. As of September 30, 2022, $39.5 million remained available
for share repurchases pursuant to the Program.
Item 3. Defaults Upon Senior Securities
None.
Item 4. Mine Safety 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.