Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Issuer Purchases of Equity Securities
Period Total number of
shares
purchased (1)
Average price
paid per share Total number of
shares purchased
as part of publicly
announced plans
or programs (2)
Maximum
approximate
dollar value of
shares that may
yet be purchased
under the plans
or programs
subsequent to
end of period (2)
August 1 - August 31, 2022 22,725 9.42 22,687 15,586,060
September 1 - September 30, 2022 30,265 8.69 30,265 15,322,269
(1) The repurchased shares include 38 shares acquired other than as part of a publicly announced plan or program. The Company repurchased these securities in connection with its Amended and Restated 2000 Long Term Incentive Plan, which allows participants to use shares to satisfy the exercise price of options exercised, certain tax liabilities arising from the exercise of options, and certain tax liabilities arising from the vesting of restricted stock. The foregoing number does not include unvested shares forfeited back to the Company pursuant to the terms of its stock compensation plans.
(2) On March 14, 2022, the Company announced that its Board of Directors of the Company authorized the repurchase of up to $20.0 million of the Company’s common stock, replacing the Company’s previously-authorized $10 million share repurchase program. The repurchase authorization permits the Company to effect the repurchases from time to time through open market purchases and privately negotiated transactions. During the three months ended September 30, 2022, the Company repurchased 52,952 shares for a total cost of $ 0.5 million and thereafter retired the shares.
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