3 unchanged sentences
Dividend Policy
−Removed: We have never paid any cash dividends on our common stock, and we currently intend to retain any future earnings for use in our business.
−Removed: We are prohibited from declaring or paying any dividends to our common stockholders without the prior consent of our lenders.
+Added: Prior to February 2023, we had not paid any cash dividends on our common stock.
+Added: On February 1, 2023, the Board of Directors declared a quarterly dividend of $0.03 per share that was paid on February 22, 2023, to stockholders of record as of February 15, 2023.
The payment and rate of future cash or stock dividends, if any, or stock repurchase programs are subject to the discretion of our board of directors and will depend upon our earnings, financial condition, capital or contractual restrictions under our credit facilities and other factors.
Issuer Purchase of Equity Securities
+Added: Purchased (1)
Maximum Dollar Amount
5 unchanged sentences
$ 5,363,998 (2)
−Removed: (1) Represents the amount remaining under the Existing Share Repurchase Program (as defined below) as of January 31, 2022.
−Removed: Effective as of April 7, 2022, we are authorized to repurchase an additional $5 million of our common stock upon the repurchase of the remaining amount under the Existing Share Repurchase Program.
+Added: (1) Withholding of 2,581 restricted shares to cover taxes on vested restricted shares during the fourth quarter of FY23.
+Added: (2) Represents the amount remaining under our share repurchase program as of January 31, 2023.
On February 17, 2021, the Company’s board of directors approved a stock repurchase program under which the Company may repurchase up to $5 million of its outstanding common stock.
−Removed: On July 6, 2021, the Board of Directors authorized an increase in the Company’s current stock repurchase program under which the Company may repurchase up to an additional $5 million of its outstanding common stock (the “Existing Share Repurchase Program”).
−Removed: Shares repurchased in FY22 totaled 430,463 shares at a cost of $9.2 million leaving $0.8 million remaining under the stock repurchase program at January 31, 2022.
−Removed: On April 7, 2022, the Board of Directors authorized a new stock repurchase program under which the Company may repurchase up to $5 million of its outstanding common stock (the “New Share Repurchase Program”).
−Removed: The New Share Repurchase Program will become effective upon the completion of the Existing Share Repurchase Program, which has approximately $800,000 remaining for repurchases as of April 21, 2022.
−Removed: The New Share Repurchase Program has no expiration date but may be terminated by the Board of Directors at any time.
+Added: On July 6, 2021, the Board of Directors authorized an increase in the Company’s then current stock repurchase program under which the Company may repurchase up to an additional $5 million of its outstanding common stock.
+Added: On April 7, 2022, the Board of Directors authorized a new stock repurchase program under which the Company may repurchase up to $5 million of its outstanding common stock, which became effective upon the completion of the prior share repurchase program.
+Added: On December 1, 2022, the Board of Directors authorized an increase in the Company’s stock repurchase program under which the Company may repurchase up to an additional $5 million of its outstanding common stock.
+Added: The share repurchase program has no expiration date but may be terminated by the Board of Directors at any time.
We do not have any other share repurchase programs.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.