Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
On April 24, 2014 the Company’s Board of Directors authorized a stock repurchase program to repurchase up to 50,000 shares of the Company’s outstanding common stock, from time to time and subject to market conditions, on the open market or in privately negotiated transactions. The stock repurchase program does not expire and is only limited by the number of shares that can be purchased. The stock repurchase program will be reviewed annually by the Board of Directors. No shares were repurchased during the quarter ended June 30, 2025 under the stock repurchase program.
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Table of Contents
Period Total Number
of Shares Purchased (2) Average Price
Paid per Share Total Number of Shares
Purchased as Part of
Publicly Announced
Plans or Programs Maximum Number of
Shares That May Yet
Be Purchased Under
the Program(1)
January 1, 2025 –January 31, 2025 - N/A - 48,828
February 1, 2025 – February 28, 2025 3,930 $26.38 - 48,828
March 1, 2025 – March 31, 2025 - N/A - 48,828
April 1, 2025 – April 30, 2025 485 $30.75 - 48,828
May 1, 2025 – May 31, 2025 690 $30.26 - 48,828
June 1, 2025 – June 30, 2025 - N/A - 48,828
(1) The stock repurchase program was announced on April 24, 2014, whereby the Company is authorized to repurchase up to 50,000 shares of the Company’s common stock outstanding. There is no express expiration date for this program.
(2) The number of shares above includes shares of common stock reacquired from the Company’s executive officers and employees to satisfy the tax withholding obligations on restricted stock awards granted under the Company’s 2015 Stock Option and Incentive Plan. For the six months ended June 30, 2025, 5,105 shares were reacquired at an average per share price of $27.32 pursuant to these tax withholding transactions.
Item 3. Defaults Upon Senior Securities
There are no matters reportable under this item.
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.