El Pollo Loco Holdings, Inc. 10-Q

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. On October 11, 2022, the Company’s Board of Directors approved a share repurchase program (the “2022 Stock Repurchase Plan”) under which the Company is authorized to repurchase up to $20.0 million of shares of our common stock. The 2022 Stock Repurchase Plan will terminate on March 28, 2024, may be modified, suspended or discontinued at any time, and does not obligate the Company to acquire any particular number of shares. As of June 28, 2023, $1.9 million remained available for repurchases under the 2022 Stock Repurchase Plan of which the entire balance has been completed subsequent to period end. Under the 2022 Stock Repurchase Plan, the Company is permitted to repurchase its common stock from time to time, in amounts and at prices that the Company deemed appropriate, subject to market conditions and other considerations. The Company’s repurchases will be executed using open market purchases, including pursuant to Rule 10b5-1 trading plans, and/or through privately negotiated transactions. T he following table summarizes the Company’s purchases of common stock, including under the 2022 Stock Repurchase Plan, in the quarterly period ended June 28, 2023 (in thousands, except number of shares and per share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Number of Shares Purchased Average Price Paid Per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Approximate Dollar Value of Shares That May Be Purchased Under the Plans or Programs ​ March 30, 2023 to April 26, 2023 412,934 ​ $ 9.15 ​ 412,934 ​ $ 10,060 April 27, 2023 to May 24, 2023 417,843 ​ $ 9.45 ​ 399,353 ​ $ 6,308 May 25, 2023 to June 28, 2023 460,000 ​ $ 9.48 ​ 460,000 ​ $ 1,948 Total 1,290,777 (1) ​ ​ 1,272,287 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) Consists of 1,272,287 shares purchased by the Company pursuant to the 2022 Stock Repurchase Plan and 18,490 shares acquired by the Company to satisfy employee tax withholding obligations in connection with the vesting of previously issued restricted stock . ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Item 3. Defaults Upon Senior Securities. None. 45 Table of Contents ​ Item 4. Mine Safety Disclosures. None. ​