Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
(a) Not applicable.
(b) Not applicable.
(c) The following table sets forth information regarding the Company’s repurchases of its common stock during the three months ended September 30, 2022:
Issuer Purchases of Equity Securities
Total Number of Shares Purchased (1) Average Price Paid Per Share Total Number of
Shares Purchased as
Part of Publicly
Announced Plan or
Program (2) Maximum Number of Shares (or Approximate Dollar Value) That May Yet Be Purchased Under the Plan or Program (2)
Period
July 1 to July 31, 2022 177,327 $ 79.25 177,327 $ 20,648,057
August 1 to August 31, 2022 111,433 $ 78.98 111,433 $ 11,847,362
September 1 to September 30, 2022 154,212 $ 76.48 154,212 $ —
Total 442,972 $ 78.22 442,972
(1) Of these shares, none were surrendered in connection with the exercise and/or vesting of equity compensation grants to satisfy related tax withholding obligations.
(2) On January 20, 2022, the Company announced that its Board of Directors authorized a share repurchase program of up to $140 million in shares of the Company's common stock. The 154,212 shares repurchased under the program in September 2022 represented the balance of the $140 million in shares repurchased, completing the program.
On October 20, 2022, the Company announced the commencement of a new stock repurchase plan which authorizes repurchases by the Company of up to $120 million in common stock. Repurchases under the new plan may be made from time to time on the open market and in privately negotiated transactions, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Exchange Act. The extent to which the Company repurchases shares and the size and timing of these repurchases will depend on a variety of factors, including pricing, market and economic conditions, the Company’s capital position and amount of retained earnings and legal and contractual requirements. The
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repurchase plan is scheduled to expire October 19, 2023 and may be modified, suspended or discontinued without prior notice at any time.
Item 3. Defaults Upon Senior Securities - None.
Item 4. Mine Safety Disclosures - Not Applicable.
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