Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
On April 18, 2018, the Company's Board of Directors authorized management to repurchase up to 500,000 shares of the Company's outstanding common stock, under a program of open market purchases or privately negotiated transactions. The plan does not have an expiration date. The authorization of this plan terminated the previous repurchase plan, which was approved in November 2006 with an authorization to repurchase up to 700,000 shares of the Company's outstanding common stock.
80
The following table reflects the Company’s repurchase activity during the three months ended June 30, 2020.
Total Number
of Shares
Purchased
Average
Price
Per Share
Total Number of
Shares Purchased
as Part of Publicly
Announced Plan
Maximum Number
of Shares that May
Yet Be Purchased
Under the Plan(1)
April 1, 2020 – April 30, 2020
—
$ —
—
282,711
May 1, 2020 – May 31, 2020
—
—
—
282,711
June 1, 2020 – June 30, 2020
—
—
—
282,711
—
$ —
—
_______________________
(1)
Amount represents the number of shares available to be repurchased under the April 2018 plan as of the last calendar day of the month shown.
Item 3. Defaults Upon Senior Securities
None.
Item 4. Mine Safety Disclosures
Not applicable
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