FIRST FINANCIAL BANKSHARES INC 10-Q

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds Repurchase of Common Stock On March 12, 2020, the Company’s Board of Directors authorized the repurchase of up to 4,000,000 common shares through September 30, 2021. The stock repurchase plan authorizes management to repurchase and retire the stock at such time as repurchases are considered beneficial to the Company and stockholders. Any repurchase of stock will be made through the open market, block trades or in privately negotiated transactions in accordance with applicable laws and regulations. Under the repurchase plan, there is no minimum number of shares that the Company is required to repurchase. Through September 30, 2020, 324,802 shares were repurchased totaling $8,008,000 under this repurchase plan. The following table presents shares that have been repurchased under the Company’s repurchase program: Period (a) Total number of shares purchased (b) Average price paid per share (c) Total number of shares purchased as part of publicly announced plans or programs (d) Maximum number of shares that may yet be purchased under the plans or programs April 1, 2020 through April 30, 2020 324,802 $ 24.7530 324,802 3,675,198 May 1, 2020 through May 31, 2020 — — — 3,675,198 June 1, 2020 through June 30, 2020 — — — 3,675,198 July 1, 2020 through July 31, 2020 — — — 3,675,198 August 1, 2020 through August 31, 2020 — — — 3,675,198 September 1, 2020 through September 30, 2020 — — — 3,675,198 Total 324,802 $ 24.7530 324,802 3,675,198 64 Table of Contents Item 3. Defaults Upon Senior Securities Not Applicable Item 4. Mine Safety Disclosures Not Applicable