Item 2. Unregistered Sales of Equity Securities
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
Issuer Purchases of Equity Securities
During the three months ended March 31, 2022, certain of our employees surrendered shares owned by them to satisfy their statutory minimum U.S. federal and state tax obligations associated with the vesting of restricted common shares of beneficial interest under the Company’s 2013 Equity Incentive Plan. These shares were repurchased by the Company.
The following table summarizes all of these repurchases during the three months ended March 31, 2022:
Period Total number
of shares
purchased Average price
paid per share Total number of
shares purchased
as part of publicly
announced plans
or programs Maximum number
of shares that may
yet be purchased
under the plans or
programs (1)
January 1, 2022 to January 31, 2022 3,725 $ 21.08 N/A $ 150,000,000
February 1, 2022 to February 28, 2022 — $ — N/A $ 150,000,000
March 1, 2022 to March 31, 2022 39,160 $ 21.84 N/A $ 150,000,000
Total 42,885 $ 21.78
(1) Represents amounts outstanding under the Company’s authorized $150.0 million share repurchase program announced in February 2021. This program may be suspended or terminated at any time by the Company and will terminate on February 28, 2023, if not terminated or
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extended prior to that date. In April 2022, the Company’s Board of Trustees authorized a $150.0 million increase to the size of the share repurchase program, authorizing share repurchases up to an aggregate $300.0 million.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
Not applicable.
ITEM 4. MINE SAFETY DISCLOSURES
Not applicable.
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