Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Our board of directors approved programs for the repurchase of outstanding shares of our common stock with an aggregate purchase amount of up to $10.0 million (the “November 2021 Program”) and $75.0 million (the “December 2024 Program”), in November 2021 and December 2024, respectively. The December 2024 Program replaced the authority granted under the November 2021 Program. Shares may be repurchased under the December 2024 Program from time to time, in amounts and at prices that the Company deems appropriate, subject to market and business conditions, applicable legal requirements and other considerations. The December 2024 Program may be executed using open market purchases pursuant to Rule 10b-18 under the Securities Exchange Act of 1934 (the “Exchange Act”), in privately negotiated agreements or by way of issuer tender offers, Rule 10b5-1 plans or other transactions. From the inception of the November 2021 Program through September 30, 2025, we have repurchased approximately 1,264 thousand shares of our common stock for aggregate consideration of approximately $28.8 million. Remaining authorization under the December 2024 Program is $53.7 million.
The following table is a summary of our repurchases of our common stock during the three months ended September 30, 2025.
Period Total number of shares purchased Average price paid per share Total number of shares purchased as part of publicly announced plan or programs Maximum value of shares that may yet be purchased under the plan or program (in thousands)
July 1, 2025 - July 31, 2025 248,589 $ 20.08 4,992,631 $ 63,712
August 1, 2025 - August 31, 2025 152,291 $ 24.32 3,703,159 $ 60,009
September 1, 2025 - September 30, 2025 234,031 $ 26.81 6,274,742 $ 53,734
Total 634,911 $ 23.58 14,970,532
Subsequent to September 30, 2025, we repurchased approximately 162 thousand shares of our common stock for aggregate consideration of $4.5 million.
Item 3. Defaults Upon Senior Securities
None.
Item 4. Mine Safety Disclosures
Not applicable.
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