Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities.
The following table sets forth information concerning shares of the Company’s common stock acquired by the Company during the period covered by this Report:
Period (a)
Total Number
of Shares
Purchased (1)(2) (b)
Average
Price Paid
Per Share (1)(2) (c)
Total Number of
Shares Purchased as part of Publicly Announced Plans or Programs (2) (d)
Approximate Dollar Value of Shares that May Yet be Purchased Under the Plans or Programs (2)
April 1 - April 30 250 $ 127.84 — $ 59,237,294
May 1 - May 31 99,793 $ 141.05 99,510 $ 239,589,877
June 1 - June 30 72,288 $ 142.74 71,058 $ 229,449,002
Total 172,331 $ 141.74 170,568 $ 229,449,002
(1) 1,763 of these shares were acquired from employees related to the surrender of Quaker Chemical Corporation shares in payment of the vesting of restricted stock awards or units. The price paid for shares acquired from employees pursuant to employee benefit and share-based compensation plans is based on the closing price of the Company’s common stock on the date of vesting as specified by the plan pursuant to which the applicable option, restricted stock award, or restricted stock unit was granted.
(2) The Company maintained the 2024 Share Repurchase Plan, which was approved by the Board and announced by the Company on February 28, 2024, authorized the repurchase of up to $150.0 million of Quaker Chemical Corporation common stock, and had no expiration date. On May 13, 2026, the Board of Directors of the Company approved, and the Company announced, the 2026 Share Repurchase Program, pursuant to which the Company is authorized to repurchase up to $250 million of Quaker Chemical Corporation common stock, which replaced the 2024 Share Repurchase Plan and has no expiration date. The number of shares to be repurchased and the timing of such transactions will depend on a variety of factors, including market conditions. During May 2026, the Company repurchased 25,277 shares under the 2024 Share Repurchase Program and, subsequently, 74,233 shares under the 2026 Share Repurchase Program.
Limitation on the Payment of Dividends
The Amended Credit Facility has certain limitations on the payment of dividends and other so-called restricted payment covenants. See Note 14, Debt , to the Condensed Consolidated Financial Statements, in Part I, Item 1, of this Report.
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.