MARKET FOR OUR COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
−Removed: The information set forth under the caption "Quarterly Summary" in our annual report, to be delivered to shareholders in connection with the April 19, 2022 Annual Meeting
−Removed: of Shareholders (filed as exhibit 13 to this report on Form 10-K), is incorporated herein by reference.
−Removed: We maintain a Deferred Compensation and Stock Purchase Plan for Non-Employee Directors (the "Plan") pursuant to which non-employee directors
−Removed: can elect to receive shares of our common stock in lieu of fees otherwise payable to the director for his or her service as a director.
−Removed: A director can elect to receive shares on a current basis or to defer receipt of the shares, in which case
−Removed: the shares are issued to a trust to be held for the account of the director and then generally distributed to the director after his or her retirement from the Board.
−Removed: Pursuant to this Plan, during the fourth quarter of 2021, we issued 384 shares
−Removed: of common stock to non-employee directors on a current basis and 4,034 shares of common stock to the trust for distribution to directors on a deferred basis.
−Removed: These shares were issued on October 1, 2021 representing aggregate fees of
−Removed: $0.09 million.
−Removed: The shares issued on a current basis were issued at a price of $21.48 per share and the shares to be issued on a deferred basis were issued at a price of $19.33 per share, representing 90% of the fair value of the shares on the
+Added: The information set forth under the caption "Quarterly Summary" in our annual report, to be delivered to shareholders in connection with the April 25, 2023 Annual Meeting of Shareholders (filed as exhibit 13 to this report on Form 10-K), is incorporated herein by reference.
+Added: We maintain a Deferred Compensation and Stock Purchase Plan for Non-Employee Directors (the "Plan") pursuant to which non-employee directors can elect to receive shares of our common stock in lieu of fees otherwise payable to the director for his or her service as a director.
+Added: A director can elect to receive shares on a current basis or to defer receipt of the shares, in which case the shares are issued to a trust to be held for the account of the director and then generally distributed to the director after his or her retirement from the Board.
+Added: Pursuant to this Plan, during the fourth quarter of 2022, we issued 431 shares of common stock to non-employee directors on a current basis and 4,537 shares of common stock to the trust for distribution to directors on a deferred basis.
+Added: These shares were issued on October 1, 2022 representing aggregate fees of $0.09 million.
+Added: The shares issued on a current basis were issued at a price of $19.10 per share and the shares to be issued on a deferred basis were issued at a price of $17.19 per share, representing 90% of the fair value of the shares on the credit date.
The per-share value used was the consolidated closing bid price per share of our common stock as of the date of issuance, as determined in accordance with NASDAQ Marketplace Rules.
−Removed: We issued the shares
−Removed: pursuant to an exemption from registration under Section 4(2) of the Securities Act of 1933 due to the fact that the issuance of the shares was made on a private basis pursuant to the Plan.
+Added: We issued the shares pursuant to an exemption from registration under Section 4(2) of the Securities Act of 1933 due to the fact that the issuance of the shares was made on a private basis pursuant to the Plan.
ISSUER PURCHASES OF EQUITY SECURITIES
The following table shows certain information relating to purchases of common stock for the three-months ended December 31, 2022:
−Removed: Total Number of
−Removed: Shares Purchased
−Removed: Average Price
−Removed: Paid Per Share
−Removed: Total Number of
+Added: Period Total Number of
+Added: Shares Purchased Average Price
+Added: Paid Per Share Total Number of
Shares Purchased
−Removed: Announced Plan(1)
+Added: Announced Plan Remaining
Shares Authorized
Under the Plan
+Added: October 2022 241 $ 22.44 — 918,414
November 2022 — — — 918,414
December 2022 — $ — — —
−Removed: These shares were repurchased pursuant to a share repurchase plan announced on December 15, 2020, which authorized the repurchase of up to 1,100,000 shares of our outstanding common
−Removed: stock during 2021.
+Added: Total 241 $ 22.44 — —
The share repurchase plan we had in place for 2022 expired on December 31, 2022.
−Removed: On December 17, 2021, we announced the adoption by our Board of Directors of a 2022 share
−Removed: repurchase plan that authorizes the repurchase during 2022 of up to 1,100,000 shares of our outstanding common stock.
+Added: On December 21, 2022, we announced the adoption by our Board of Directors of a 2023 share repurchase plan that authorizes the repurchase during 2023 of up to 1,100,000 shares of our outstanding common stock.
SELECTED FINANCIAL DATA
−Removed: The information set forth under the caption "Selected Consolidated Financial Data" in our annual report, to be delivered to shareholders in connection with the April 19,
−Removed: 2022 Annual Meeting of Shareholders (filed as exhibit 13 to this report on Form 10-K), is incorporated herein by reference.
−Removed: MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
−Removed: The information set forth under the caption "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our annual report, to be delivered
−Removed: to shareholders in connection with the April 19, 2022 Annual Meeting of Shareholders (filed as exhibit 13 to this report on Form 10-K), is incorporated herein by reference.
−Removed: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
−Removed: The information set forth in "Management's Discussion and Analysis of Financial Condition and Results of Operations" under the caption "Asset/liability management" in our
−Removed: annual report, to be delivered to shareholders in connection with the April 19, 2022 Annual Meeting of Shareholders (filed as exhibit 13 to this report on Form 10-K), is incorporated herein by reference.
−Removed: FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
−Removed: The following consolidated financial statements and the independent auditor's report are set forth in our annual report, to be delivered to shareholders in connection
−Removed: with the April 19, 2022 Annual Meeting of Shareholders (filed as exhibit 13 to this report on Form 10-K), and are incorporated herein by reference.
−Removed: Management's Annual Report on Internal Control Over Financial Reporting
−Removed: Report of Independent Registered Public Accounting Firm
−Removed: Consolidated Statements of Financial Condition at December 31, 2021 and 2020
−Removed: Consolidated Statements of Operations for the years ended December 31, 2021, 2020 and 2019
−Removed: Consolidated Statements of Comprehensive Income for the years ended December 31, 2021, 2020 and 2019
−Removed: Consolidated Statements of Shareholders' Equity for the years ended December 31, 2021, 2020 and 2019
−Removed: Consolidated Statements of Cash Flows for the years ended December 31, 2021, 2020 and 2019
−Removed: Notes to Consolidated Financial Statements
−Removed: FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA (continued)
−Removed: The supplementary data required by this item set forth under the caption "Quarterly Financial Data (Unaudited)" in our annual report, to be delivered to shareholders in
−Removed: connection with the April 19, 2022 Annual Meeting of Shareholders (filed as exhibit 13 to this report on Form 10-K), is incorporated herein by reference.
−Removed: The portions of our annual report, to be delivered to shareholders in connection with the April 19, 2022 Annual Meeting of Shareholders (filed as exhibit 13 to this
−Removed: report on Form 10-K), which are not specifically incorporated by reference as part of this Form 10-K are not deemed to be a part of this report.
−Removed: CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE
+Added: The information set forth under the caption "Selected Consolidated Financial Data" in our annual report, to be delivered to shareholders in connection with the April 25, 2023 Annual Meeting of Shareholders (filed as exhibit 13 to this report on Form 10-K), is incorporated herein by reference.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.