Item 2. Unregistered Sales of Equity Securities
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
Issuer Purchases of Equity Securities
Our common stock repurchase activity for the three months ended March 31, 2024 was as follows:
Period
Total Number of
Shares
Purchased (1)
Average Price
Paid Per
Share (2)
Total Number
of Shares
Purchased as
Part of
Publicly
Announced
Plan
Approximate
Dollar Value
of Shares that
May Yet to Be
Purchased
Under the
Plan (3)(4)
($ in thousands, except per share amounts and shares)
January 1, 2024 - January 31, 2024
—
$
—
—
n/a
February 1, 2024 - February 29, 2024
—
$
—
—
$
75,000
March 1, 2024 - March 31, 2024
565,540
$
15.50
565,540
$
66,236
Total
565,540
$
15.50
565,540
(1) Such shares are cancelled and retired.
(2) The average price paid per share includes any commissions paid to repurchase stock.
(3) In February 2024, our board of directors approved a stock repurchase program for up to $75.0 million, excluding excise tax. The stock repurchase program expires on December 31, 2024 and may be suspended, modified, or discontinued by the board of directors at any time
(4) The IRA of 2022, which was enacted into law on August 16, 2022, imposed a nondeductible 1% excise tax on the net value of certain stock repurchases made after December 31, 2022. All dollar amounts presented exclude such excise taxes, as 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.