Hub Group, Inc. 10-Q

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds In October 2023, the Board authorized the purchase of up to $250 million of our Class A Common Stock pursuant to a share repurchase program (the “ 2023 Program ” ). Under the 2023 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. During the three months ended June 30, 2025, we did not purchase any shares under the 2023 Program. During the six months ended June 30, 2025, we purchased 330,441 shares for approximately $13.8 million under the 2023 Program. During the three months ended June 30, 2025, we purchased 3,661 shares for approximately $0.1 million related to withholding upon vesting of restricted stock. During the six months ended June 30, 2025, we purchased 151,685 shares for approximately $6.7 million related to withholding upon vesting of restricted stock. The table below includes information on a monthly basis regarding shares purchased under the 2023 Program and the number of shares delivered to us to satisfy the mandatory tax withholding requirement upon vesting of restricted stock during the quarter ended June 30, 2025. Shares delivered to us to satisfy the mandatory tax withholding requirement upon vesting of restricted stock do not reduce the repurchase authority under the 2023 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 Program Purchased Per Share Announced Plan (in 000’s) April 2025 3,574 $ 37.18 - $ 141,540 May 2025 - $ - - $ 141,540 June 2025 87 $ 32.78 - $ 141,540 Total 3,661 $ 37.07 - $ 141,540 Item 3. Defaults Upon Senior Securities N ot applicable. Item 4. Mine Safety Disclosures N ot applicable.