El Pollo Loco Holdings, Inc. 10-Q

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. On November 2, 2023, the Company announced that its Board of Directors approved a share repurchase program (“Share Repurchase Program”) under which the Company is authorized to repurchase up to $20,000,000 of shares of the Company’s common stock. Under the Share Repurchase Program, 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. Pursuant to the Share Repurchase Program, the Company is authorized to effect repurchases using open market purchases, including pursuant to Rule 10b5-1 trading plans, and/or through privately negotiated transactions. The repurchase program does not obligate the Company to acquire any particular number of shares. The repurchase program will terminate on March 31, 2025. Further, on December 4, 2023, we repurchased 1.5 million shares for a total purchase price of $12.6 million under the Stock Repurchase Agreement with FS Equity Partners V, L.P. and FS Affiliates V, L.P. Following completion of this repurchase, approximately $7.4 million of its common stock remained available for repurchase under the share repurchase program at December 27, 2023. For the thirteen weeks ended March 27, 2024, the Company repurchased 136,400 shares of common stock under the share repurchase program, using open market purchases, for total consideration of approximately $1.2 million. Following completion of these repurchases, approximately $6.2 million of the Company’s common stock remained available for repurchase under the share repurchase program at March 27, 2024. T he following table summarizes the Company’s purchases of common stock in the quarterly period ended March 27, 2024, which all occurred pursuant to the Share Repurchase Program (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 December 28, 2023 to January 24, 2024 — ​ $ — ​ — ​ $ 7,400,000 January 25, 2024 to February 21, 2024 43,700 ​ $ 9.11 ​ 43,700 ​ $ 7,001,945 February 22, 2024 to March 27, 2024 92,700 ​ $ 8.90 ​ 92,700 ​ $ 6,176,597 Total 136,400 ​ ​ ​ ​ 136,400 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 42 Table of Contents Item 3. Defaults Upon Senior Securities. None. ​ Item 4. Mine Safety Disclosures. None. ​