Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
On October 21, 2015, our Board approved an 18-month stock repurchase plan (the “Repurchase Plan”), authorizing the repurchase of up to $20 million worth of our common stock. Then, separately on each of September 29, 2016, August 23, 2017, November 8, 2018, November 10, 2020, and November 15, 2024 the Board extended and increased the Repurchase Plan to allow the repurchase of up to an additional $20 million worth of common stock with no expiration date, which brought the total authorized stock repurchases under the Repurchase Plan to $120 million.
During the three months ended December 31, 2024, the Company repurchased $3.0 million of common stock under the Repurchase Plan. The following table contains information about our purchases of equity securities during the three months ended December 31, 2024.
Period Total Number of Shares Purchased Average Price Paid per Share (1)
Total Number of Shares Purchased as Part of Publicly Announced Plan Maximum Dollar Value of Shares that May Yet Be Purchased Under the Plan (1)
October 1, 2024 - October 31, 2024 — $ — — $ 5,294,125
November 1, 2024 - November 30, 2024 52,972 $ 19.46 52,972 $ 24,263,268
December 1, 2024 - December 31, 2024 103,224 $ 19.08 103,224 $ 22,294,134
Total 156,196 $ 19.21 156,196
(1) Excludes 1% U.S. excise tax on share repurchases which is recognized as part of the cost basis of the shares acquired in the Consolidated Statements of Share Owners’ Equity.
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