Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Recent sales of unregistered securities
On January 10, 2025, Advantest America, Inc., a Delaware corporation, acquired 334,971 shares of FormFactor's common stock in a private placement for $44.78 per share, representing the 5-day trailing volume-weighted average price prior to signing the related private placement agreement.
Repurchase of Common Stock
The following table summarizes our repurchases of outstanding common stock for the three months ended March 29, 2025:
Period (fiscal months) Total Number of Shares Purchased Average Price Paid per Share
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Maximum Amount that May Yet Be Purchased Under the Plans or Programs (1)(2)
December 29, 2024 - January 25, 2025 — $ — — $ 20,530,755
January 26, 2025 - February 22, 2025 132,446 35.21 132,446 15,867,331
February 23, 2025 - March 29, 2025 532,554 32.81 532,554 —
665,000 $ 33.29 665,000
1 In October 2023, our Board of Directors authorized a program to repurchase up to $75.0 million of outstanding common stock to offset potential dilution from issuances of our common stock under our employee stock purchase plan and equity incentive plan. In March 2025, our Board of Directors approved an increase to the repurchase plan, authorizing the repurchase of an additional $1.6 million shares. As of March 29, 2025, this program was fully utilized.
2 Amounts exclude the 1% surcharge on stock repurchases under the Inflation Reduction Act’s excise tax. This excise tax is recorded in equity and excluded from the amount available under the repurchase program.
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