El Pollo Loco Holdings, Inc. 10-Q

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. On November 2, 2023, we announced that our Board of Directors approved a share repurchase program (“Share Repurchase Program”) under which we are authorized to repurchase up to $20,000,000 of shares of our common stock. See Note 3, “Stock Based Compensation-Share Repurchase Program” in the “Notes to Condensed Consolidated Financial Statements” for additional information. 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 June 26, 2024, we repurchased 203,483 shares of common stock under the Share Repurchase Program, using open market purchases, for total consideration of approximately $2.0 million. Following completion of these repurchases, approximately $4.2 million of our common stock remained available for repurchase under the Share Repurchase Program at June 26, 2024. In addition, on May 29, 2024, we repurchased 1,534,303 shares for a total purchase price of $15.0 million under the Stock Repurchase Agreement with FS Equity Partners V, L.P. and FS Affiliates V, L.P. (“FS Stock Repurchase Agreement”). T he following table summarizes our repurchases of common stock in the quarterly period ended June 26, 2024, which occurred pursuant to either our Share Repurchase Program or pursuant to Stock Repurchase Agreements as described above (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 28, 2024 to April 24, 2024 71,908 ​ $ 8.86 ​ 71,908 ​ $ 5,539 April 25, 2024 to May 22, 2024 79,369 ​ $ 10.00 ​ 65,075 ​ $ 4,896 May 23, 2024 to June 26, 2024 1,600,803 ​ $ 9.82 ​ 66,500 ​ $ 4,190 Total 1,752,080 (1) ​ ​ ​ ​ 203,483 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) Consists of (a) 203,483 shares repurchased by us pursuant to the Share Repurchase Program, (b) 14,294 shares acquired by us to satisfy employee tax withholding obligations in connection with the vesting of previously issued restricted stock and (c) 1,534,303 shares repurchased by us pursuant to the FS Stock Repurchase Agreement. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 46 Table of Contents Item 3. Defaults Upon Senior Securities. None. ​ Item 4. Mine Safety Disclosures. None. ​