Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
The following table provides information with respect to the Company’s common stock that the Company repurchased during the three months ended July 31, 2023. Included in this table are shares withheld during May 2023 and June 2023 to satisfy tax withholding requirements in connection with stock awards.
Date Purchased
Total Number of Shares Purchased (1)
Average Price Paid Per Share (1)
Total Number of Share Purchased as Part of Publicly Announced Program (2) (3)
Maximum Number of Shares that may yet be Purchased Under the Program (2)
May 1 - May 31, 2023
138
$
16.21
—
7,288,148
June 1 - June 30, 2023
996,120
19.86
456,995
6,831,153
July 1 - July 31, 2023
17,302
18.71
17,302
6,813,851
1,013,560
$
19.29
474,297
6,813,851
(1) Included in this table are 539,263 shares withheld during the three-month period ended July 2023 in connection with the settlement of vested restricted stock units to satisfy tax withholding requirements. Our 2015 Long-Term Incentive Plan provides that shares withheld are valued at the closing price per share on the date withheld.
(2) In August 2023, our Board of Directors reapproved our previously authorized share repurchase program and increased the number of shares remaining under that program from 6,813,851 to 10,000,000 shares. This program has no expiration date. Repurchases under the program may be made from time to time through open market purchases, accelerated share repurchase programs, privately negotiated transactions or other methods, as we deem appropriate.
(3) In June 2023, the Company entered into a stock sale and purchase agreement (the “Agreement”) with Sammy Aaron, the Company’s Vice Chairman and President and a Director of the Company. Pursuant to the Agreement, the Company purchased 208,943 shares of its common stock for $4.1 million at a price equal to the closing price of the Company’s shares on the date of the Agreement.
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.