Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
On October 21, 2020, the Company’s Board of Directors authorized management to repurchase up to 1,000,000 shares of the Company’s outstanding common stock, under a program of open market purchases or privately negotiated transactions. This program became effective in November 2020 and does not have an expiration date.
From time to time, the Company may utilize a pre-arranged trading plan pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934 to repurchase its shares under its repurchase programs.
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The following table reflects the Company’s repurchase activity during the three months ended June 30, 2021.
Total Number of
Maximum Number
Total Number
Average
Shares Purchased
of Shares that May
of Shares
Price
as Part of Publicly
Yet Be Purchased
Purchased
Per Share
Announced Plan
Under the Plan(1)
April 1, 2021 – April 30, 2021
—
$
—
—
861,670
May 1, 2021 – May 31, 2021
—
—
—
861,670
June 1, 2021 – June 30, 2021
67,514
54.50
67,514
794,156
67,514
$
54.50
67,514
(1) Amount represents the number of shares available to be repurchased under the current program 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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