Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities
and Use of Proceeds
Share Repurchases
The following table presents
the share repurchase activity for the quarter ended October 31, 2025:
Period
Total
number of
shares
purchased
(1) (2)
Average
price paid
per share
Total
number of
shares
purchased
as part of
the publicly
announced
plan or
program
Approximate
dollar
value of
shares that
may yet be
purchased
under the
plan or
program
August 1 - 31, 2025
-
-
-
$ 555,912
September 1 - 30, 2025
-
-
-
$ 20,000,000
October 1 - 31, 2025
10,219
$ 36.72
10,219
$ 19,624,758
Total
10,219
10,219
$ 19,624,758
(1) In March 2005, the Company’s Board of Directors authorized
the repurchase of up to $5.0 million worth of shares of the Company’s common stock. On September 9, 2025, the Company’s Board
of Directors approved a new share repurchase authorization in the amount of $20.0 million. Under this new share repurchase authorization,
the Company’s shares of common stock may be purchased on a discretionary basis from time to time, subject to general business and
market conditions and other investment opportunities, through open market purchases, privately negotiated transactions or other means.
This repurchase program may be suspended or discontinued at any time without notice. The new share repurchase authorization replaced
the Company’s existing share repurchase authorization under which approximately $0.6 million remained. This new share repurchase
authorization does not have an expiration date.
(2) Represents shares withheld with respect to stock-based awards
to satisfy required tax withholding obligations for the month of October 2025. There were no shares withheld or otherwise repurchased
during the months of August 2025 and September 2025.
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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.