EGAIN Corp 10-Q

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds On November 14, 2022, our board of directors authorized a stock repurchase program under which we may purchase up to $20.0 million of our outstanding common stock. On May 31, 2024, our board of directors authorized a $20.0 million increase in its stock repurchase program, bringing the aggregate amount we may purchase thereunder from $20.0 million to $40.0 million of its outstanding common stock. As of September 30, 2024, approximately $12.4 million remained available for stock repurchases pursuant to our stock repurchase program. ​ Under the stock repurchase program, we may purchase shares of common stock on a discretionary basis from time to time through open market transactions or privately negotiated transactions at prices deemed appropriate by us. In addition, at our discretion, open market repurchase of common stock may also be made under a Rule 10b5-1 plan, which would permit common stock to be repurchased when we might otherwise be precluded from doing so under insider trading laws or self-imposed trading restrictions. ​ The timing and number of shares repurchased will be determined based on an evaluation of market conditions and other factors, including stock price, trading volume, general business and market conditions, and the availability of capital. The stock repurchase program has been extended until the earlier of (i) the date the aggregate amount of shares that can be repurchased under the stock repurchase program have been repurchased and (ii) the date the board of directors decides to terminate the stock repurchase program. The stock repurchase program does not obligate us to acquire a specified number of shares and may be modified, suspended, or discontinued at any time at our discretion without notice. The stock repurchase program will be funded using existing cash or future cash flows. Common shares repurchased by the Company are held as treasury shares. ​ The following table summarizes the stock repurchase activity for the three months ended September 30, 2024, and the approximate dollar value of shares that may yet be purchased pursuant to our stock repurchase program: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Period ​ Total Number of Shares Purchased ​ Average Price Paid per Share ​ Total Number of Shares Purchased as Part of Publicly Announced Program ​ Approximate Dollar Value of Shares That May Yet Be Purchased Under the Program (in thousands) July 1, 2024 to July 31, 2024 ​ 426,903 ​ $ 6.77 ​ 426,903 ​ $ 14,081 August 1, 2024 to August 31, 2024 ​ 243,921 ​ $ 6.93 ​ 243,921 ​ $ 12,384 September 1, 2024 to September 30, 2024 ​ — ​ $ — ​ — ​ $ 12,384 Total ​ 670,824 ​ ​ ​ ​ 670,824 ​ ​ ​ ​ ​