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 On October 25, 2023, our Board of Directors increased the authorization under its existing stock repurchase program by $200.0 million, reflecting an aggregate authorization for share repurchases since the initiation of the program of $2,045.0 million. The current expiration date on the repurchase authorization by our Board of Directors is 31 Table of Contents March 1, 2025. 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, 2023, 1,034,649 shares of common stock were repurchased by the Company. At September 30, 2023, there remains $81.9 million available under our share repurchase authorization (which authorization was increased to $281.9 million in October 2023) . 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 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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, 2023 – July 31, 2023 118,835 ​ $ 105.97 118,835 ​ $ 103,000,000 August 1, 2023 – August 31, 2023 107,607 ​ $ 111.82 107,607 ​ $ 91,000,000 September 1, 2023 – September 30, 2023 79,797 ​ $ 114.10 79,797 ​ $ 81,900,000 Total 306,239 ​ $ 110.14 306,239 ​ $ 81,900,000 Tax Withholdings ​ ​ July 1, 2023 – July 31, 2023 — ​ $ — — ​ $ — August 1, 2023 – August 31, 2023 — ​ $ — — ​ $ — September 1, 2023 – September 30, 2023 — ​ $ — — ​ $ — Total — ​ $ — — ​ $ — ​ ​ Item 3. Defaults Upon Senior Securities None. Item 4. Mine Safety Disclosures None.