Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
In November 2022, 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 does not have an expiration date. This program became effective in April 2023, upon completion of the previously authorized repurchase program.
In April 2025, the Company’s Board of Directors authorized management to repurchase up to an additional 1,000,000 shares of the Company’s outstanding common stock, under a program of open market purchases or privately negotiated transactions. This program does not have an expiration date. This program will become effective upon completion of the repurchase program authorized in November 2022.
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.
The following table reflects the Company’s repurchase activity during the three months ended June 30, 2025.
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, 2025 – April 30, 2025
94,291
$
53.92
94,291
175,594
May 1, 2025 – May 31, 2025
49,200
56.29
49,200
126,394
June 1, 2025 – June 30, 2025
32,507
56.81
32,507
93,887
175,998
$
55.11
175,998
(1) Amount represents the number of shares available to be repurchased as of the last calendar day of the month shown.
Item 3. Defaults Upon Senior Securities
None.
Item 4. Mine Safety Disclosures
Not applicable
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.