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 the Company’s 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 share repurchases, if any, will be made as market and business conditions warrant. During the nine months ended September 30, 2020, we repurchased 1,164,244 shares of common stock. At September 30, 2020, there remains $85.0 million available under our share repurchase authorization . ​ 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 third 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 ​ ​ July 1, 2020 – July 31, 2020 23,800 ​ $ 86.68 23,800 ​ $ 106,200,000 August 1, 2020 – August 31, 2020 64,141 ​ $ 95.26 64,141 ​ $ 100,100,000 September 1, 2020 – September 30, 2020 178,700 ​ $ 84.47 178,700 ​ $ 85,000,000 Total 266,641 ​ $ 87.26 266,641 ​ $ 85,000,000 Tax Withholdings ​ ​ July 1, 2020 – July 31, 2020 — ​ $ — — ​ $ — August 1, 2020 – August 31, 2020 — ​ $ — — ​ $ — September 1, 2020 – September 30, 2020 — ​ $ — — ​ $ — Total — ​ $ — — ​ $ — ​ ​ Item 3. Defaults Upon Senior Securities None. Item 4. Mine Safety Disclosures None.