Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PARTIES
On April 8, 2025, the Company's board of directors reauthorized and extended a share repurchase program through April 30, 2027, under which the Company is authorized to repurchase, from time to time as the Company deems appropriate, shares of the Company's common stock with an aggregate purchase price of up to $30.0 million. On March 5, 2026, the Company's board of directors amended the share repurchase program and increased the Company's authority by $30.0 million, raising the total aggregate purchase price available under the plan to $60.0 million. Repurchases may be made in the open market, through block trades or otherwise, and in privately negotiated transactions. The repurchase program does not obligate the Company to repurchase any dollar amount or number of shares, and the program may be extended, modified, suspended or discontinued at any time. During the first quarter of 2026, a total of 336,853 shares were repurchased at a weighted average purchase price of $56.99 for an aggregate purchase price of $19.2 million. Under the current program, a total of 674,743 shares have been repurchased at a weighted average purchase price per share of $57.51 as of March 31, 2026.
The following table provides information as of March 31, 2026 with respect to shares of common stock repurchased by the Company during the quarter then ended:
Period Total Number of Shares Purchased (a) Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Maximum Number (or Appropriate Dollar Value) of Shares that May Yet Be Purchased Under the Plans or Programs (b)
January 1 - 31 12,691 $ 56.63 10,000 $ 9,827,795
February 1 - 28 59,710 58.50 58,311 6,421,712
March 1 - 31 268,542 56.70 268,542 21,195,758
Total 340,943 $ 57.01 336,853 $ 21,195,758
(a) A total of 4,090 of the shares purchased during January and February were credited to the deferred share accounts of non-employee directors under the Company’s directors’ deferred compensation plan. The shares were purchased at a weighted average price per share of $58.54. These shares are held in treasury stock of the Company and were purchased in the ordinary course of business and consistent with past practice.
(b) The maximum dollar value of remaining aggregate repurchase authority under the current program is $21.2 million. Total repurchases under the current program are $38.8 million.
Item 3. Defaults Upon Senior Securities
None
Item 4. Mine Safety Disclosures
N/A
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Table of Contents
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