Grand Canyon Education, Inc. 10-Q

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds Recent Sales of Unregistered Securities None. Purchases of Equity Securities by the Issuer and Affiliated Purchasers In July 2020, our Board of Directors increased the authorization under its existing stock repurchase program by $50.0 million to a total of $300.0 million of common stock that we can repurchase, from time to time, depending on market conditions and other considerations. The current expiration date on the repurchase authorization is December 31, 2021. Repurchases occur at the Company’s discretion and the Company may modify, suspend or discontinue the repurchase authorization at any time. Repurchases may be made in the open market or in privately negotiated transactions, pursuant to the applicable Securities and Exchange Commission rules. The amount and timing of future 37 Table of Contents share repurchases, if any, will be made as market and business conditions warrant. During the six months ended June 30, 2020, we repurchased 897,603 shares of common stock. At June 30, 2020, there remains $58.3 million available under our share repurchase authorization, prior to the increase in authorization made in July . ​ The following table sets forth our share repurchases of common stock and our share repurchases in lieu of taxes, which are not included in the repurchase plan totals as they were approved in conjunction with the restricted share awards, during each period in the second quarter of fiscal 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Number of Maximum Dollar ​ ​ ​ ​ ​ ​ ​ Shares Purchased as ​ Value of Shares ​ ​ ​ ​ Average ​ Part of Publicly ​ That May Yet Be ​ ​ Total Number of ​ Price Paid ​ Announced ​ Purchased Under Period ​ Shares Purchased ​ Per Share ​ Program ​ the Program Share Repurchases ​ ​ April 1, 2020 – April 30, 2020 100,000 ​ $ 72.97 100,000 ​ $ 59,300,000 May 1, 2020 – May 31, 2020 — ​ $ — — ​ $ 59,300,000 June 1, 2020 – June 30, 2020 11,100 ​ $ 91.37 11,100 ​ $ 58,300,000 Total 111,100 ​ $ 74.81 111,100 ​ $ 58,300,000 Tax Withholdings ​ ​ April 1, 2020 – April 30, 2020 — ​ $ — — ​ $ — May 1, 2020 – May 31, 2020 — ​ $ — — ​ $ — June 1, 2020 – June 30, 2020 — ​ $ — — ​ $ — Total — ​ $ — — ​ $ — ​ ​ Item 3. Defaults Upon Senior Securities None. Item 4. Mine Safety Disclosures None.