Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
In November 2024, the Company implemented a stock buyback program pursuant to Rule 10b5-1 and Rule 10b-18 under the Exchange Act authorizing us to repurchase up to 2,300,000 shares of our common stock in open market transactions through the close of business on the second full trading day following the filing with the SEC of the Company's Form 10-Q for the fiscal quarter ending December 31, 2024 unless extended or terminated by our Board. This stock buyback program expired on February 7, 2025.
In February 2025, the Company implemented a stock buyback program pursuant to Rule 10b5-1 and Rule 10b-18 under the Exchange Act authorizing us to repurchase up to 1,800,000 shares of our common stock in open market transactions through the close of business on the second full trading day following the filing with the SEC of the Company's Form 10-Q for the fiscal quarter ending March 31, 2025 unless extended or terminated by our Board.
The following table summarizes common stock repurchases during the three months ended March 31, 2025:
Month
Total Number of
Shares Purchased (1)
Average Price Paid
Per Share
Total Number of
Shares Purchased
as Part of 10b5-1 Plans
Maximum Number of
Shares that May
Yet Be Purchased
Under the Plans or
Programs
January 1-31, 2025
58,043
$
1.80
58,043
716,892
February 1-28, 2025
288,006
$
1.88
28,073
-
March 1-31, 2025
233,440
$
1.85
1,724
1,798,276
Total
579,489
$
1.87
87,840
(1) All shares were purchased in open market transactions.
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.