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 March 31, 2026:
Issuer Purchases of Equity Securities
Total Number of Shares Purchased (1) Average Price Paid Per Share (2) Total Number of
Shares Purchased as
Part of Publicly
Announced Plan or
Program Maximum Number of Shares (or Approximate Dollar Value) That May Yet Be Purchased Under the Plan or Program (3)
Period
January 1 to January 31, 2026 170,337 $ 79.49 170,337 $ 75,604,180
February 1 to February 28, 2026 377,995 $ 80.45 354,963 $ 47,098,210
March 1 to March 31, 2026 280,920 $ 76.55 277,016 $ 25,882,553
Total 829,252 $ 78.93 802,316
(1) The number of shares surrendered in connection with the vesting of equity compensation grants to satisfy related tax withholding obligations was 23,032 shares in February 2026 and 3,904 shares in March 2026.
(2) During the three months ended March 31, 2026, the average price per share of repurchased shares was $78.85 and the average price per share of surrendered shares related to tax withholding obligations was $81.47.
(3) On July 17, 2025, the Company announced a stock buyback plan which authorized repurchases by the Company of up to $150 million in common stock. Repurchases under the 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 repurchase plan is scheduled to expire on July 16, 2026 and may be modified, suspended or discontinued without prior notice at any time. The Company announced a new stock buyback plan, effective April 30, 2026, under which the Company may repurchase up to $200 million in common stock. Repurchases under the new plan may also 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, and the extent to which the Company repurchases shares and the size and timing of these repurchases under the new plan will also depend on a variety of factors, including those identified above with respect to the prior plan. Repurchases under the new stock buyback plan are expected to commence after the Company completes the prior stock buyback plan, under which approximately $10.5 million remains outstanding. The repurchase plan is scheduled to expire on April 29, 2027 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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