Information Services Group Inc. 10-Q

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS ​ Dividend Program ​ On May 7, 2024, the Board approved a second-quarter dividend of $0.045 per share, payable on July 5, 2024, to shareholders of record as of June 14, 2024. The dividends are accounted for as a decrease to Stockholders’ Equity. All future dividends will be subject to the Board’s approval. ​ Issuer Purchases of Equity Securities ​ On August 5, 2021, the Board of Directors approved a stock repurchase plan authorizing the Company to repurchase an aggregate of $25 million in shares of the Company’s common stock (the “2021 Repurchase Program”). On August 1, 2023, the Board of Directors approved a new stock repurchase plan authorizing the Company to repurchase an aggregate of an additional $25 million in shares of the Company’s common stock. The new share repurchase program took effect upon the completion of the 2021 Repurchase Program, which was exhausted in the quarter ended March 31, 2024. The Company had approximately $23.4 million in the aggregate available under its current share repurchase program as of March 31, 2024. The shares may be repurchased from time to time in open market transactions at prevailing market prices, in privately negotiated transactions, pursuant to a Rule 10b5-1 repurchase plan or by other means in accordance with federal securities laws. The timing, the amount and the method of any repurchases will be determined by the Company’s management based on its evaluation of market conditions, capital allocation alternatives and other factors. There is no guarantee as to the number of shares that will be repurchased, and the repurchase program may be extended, suspended or discontinued at any time without notice at the Company’s discretion. ​ The following table details the repurchases that were made during the three months ended March 31, 2024. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Number of Approximate Dollar ​ ​ ​ ​ ​ ​ ​ Shares ​ Value of Shares ​ ​ Total Number of ​ ​ ​ ​ Purchased ​ That May Yet Be ​ ​ Shares ​ Average ​ as Part of Publicly ​ Purchased Under ​ ​ Purchased ​ Price Paid per ​ Announced Plans or Programs ​ the Plans or Programs Period (In thousands) ​ Share (In thousands) (In thousands) (1) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 1 - January 31 196 ​ $ 4.58 196 ​ $ 25,031 February 1 - February 29 ​ 243 ​ $ 4.37 243 ​ $ 23,968 March 1 - March 31 140 ​ $ 4.08 140 ​ $ 23,397 ​ ​