Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
In October 2022, the Board authorized the purchase of up to $200 million of our Class A Common Stock pursuant to a share repurchase program (the “ 2022 Program ” ). Under the 2022 Program, the shares may be repurchased in the open market or in privately negotiated transactions, from time to time subject to market and other conditions. The approved share repurchase program does not obligate us to repurchase any dollar amount or number of shares and the program may be modified, suspended or discontinued at any time. We purchased 1,323,425 shares under this authorization during the first six months of 2023.
We purchased 2,695 shares for $0.2 million during the second quarter of 2023 related to withholding upon vesting of restricted stock. The table below includes information on a monthly basis regarding the number of shares delivered to us to satisfy the mandatory tax withholding requirement upon vesting of restricted stock during the second quarter of 2023. These shares do not reduce the repurchase authority under the 2022 Program.
Maximum Value of
Total
Total Number of
Shares that May Yet
Number of
Average
Shares Purchased as
Be Purchased Under
Shares
Price Paid
Part of Publicly
the Plan
Purchased
Per Share
Announced Plan
(in 000’s)
April 2023
1,284
$
83.47
-
$
200,000
May 2023
761,063
$
74.19
759,714
$
143,638
June 2023
563,773
$
77.41
563,711
$
100,000
Total
1,326,120
$
75.57
1,323,425
$
100,000
17
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