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Share Repurchase Program
−Removed: In April 2018, the Company's board of directors approved a share repurchase program which authorized the Company to purchase up to 1,000,000 shares (as adjusted for the two-for-one split of A-Mark’s common stock in the form of a stock dividend in fiscal 2022) of its common stock.
+Added: In April 2018, the Company's board of directors approved a share repurchase program which authorized the Company to purchase up to 1.0 million shares (as adjusted for the two-for-one split of A-Mark’s common stock in the form of a stock dividend in fiscal 2022) of its common stock.
The share repurchase program was initially announced on May 8, 2018.
+Added: Prior to fiscal 2023, no shares were repurchased under our share repurchase program.
In fiscal 2023, we repurchased a total of 335,735 shares under the program for $9.8 million.
−Removed: Late in fiscal 2023, the board revised the repurchase program to authorize the purchase of up to 1,000,000 shares of our common stock, in addition to the shares previously repurchased, and extended the expiration date of the program from June 30, 2023 to June 30, 2028.
−Removed: Prior to fiscal 2023, no shares had been repurchased under our share repurchase program.
+Added: In the fourth quarter of fiscal 2023, the board revised the repurchase program to authorize the purchase of up to 1.0 million shares of our common stock, in addition to the shares previously repurchased, and extended the expiration date from June 30, 2023 to June 30, 2028.
+Added: In November 2023, the Company's board of directors further amended the share repurchase program to authorize an additional 1.2 million shares to be repurchased under the program, resulting in a total of 2.0 million shares authorized for repurchase, after taking into account the shares previously purchased at that date.
+Added: As of December 31, 2023, 1,052,905 remain authorized for repurchase under the program.
Under the share repurchase program, we may repurchase shares of our common stock from time to time at prevailing market prices, depending on market conditions, through open market or privately negotiated transactions.
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We are not obligated to repurchase any shares under the program, and repurchases under the program may be discontinued if management determines that additional repurchases are not warranted.
−Removed: The following table reflects activity related to equity securities we repurchased during the quarter ended September 30, 2023:
+Added: The following table reflects activity related to equity securities we repurchased during the quarter ended December 31, 2023:
Total Number of Shares Purchased
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.