Item 2. Unregistered Sales of Equity Securities
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
During the three months ended March 31, 2025, we did not sell any equity securities that were not registered under the Securities Act of 1933.
Issuer Purchases of Equity Securities
The following table provides information with respect to the number of shares of common stock repurchased by us for the periods indicated (in thousands, except share and per share amounts):
Period Total Number of
Shares of Common
Stock Purchased (1)
Weighted Average Price Paid
per Common Share (2)
Purchased as Part of
Publicly Announced
Plans or Programs (3)
Maximum Number (or dollar value) of Shares that May Yet
be Purchased Under the
Plans or Programs
January 1, 2025 - January 31, 2025
11,883 $ 67.80 — $ —
February 1, 2025 - February 28, 2025
— — — —
March 1, 2025 - March 31, 2025
4,586 63.00 4,586 99.7
Total 16,469 $ 66.46 4,586 $ 99.7
(1) Includes 11,883 shares withheld by us from employees to satisfy employee tax obligations upon vesting of restricted stock granted to our employees under the Company's equity incentive plans.
(2) The value of the common stock withheld to satisfy employee tax was based on the closing price of our common stock on the applicable vesting date. The average price paid per share of common stock repurchased under the Company's stock repurchase plan includes commissions paid to brokers
(3) The Company’s common stock repurchases are made pursuant to the Company’s stock repurchase plan, which was authorized by the board of directors in March 2025, to repurchase up to $100.0 million of the Company’s common stock. The timing, volume and nature of the repurchases will be at the discretion of management based on its evaluation of the capital needs of the Company, market conditions, applicable legal requirements and other factors. There is no guarantee as to the number of shares that will be repurchased. Repurchases under the share repurchase plan are expected to be funded from existing cash balances and proceeds from the sale of the Company’s Series A preferred stock under its at-the-market offering program. During the three months ended March 31, 2025, 4,586 shares were repurchased under the share repurchase plan. The repurchase plan expires on March 17, 2026, and may be extended, suspended, modified or discontinued at any time at the Company’s discretion.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None.
ITEM 4. MINE SAFETY DISCLOSURES
Not applicable.
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