LIQUIDITY SERVICES INC 10-Q

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds Unregistered Sales of Equity Securities None during the period covered by this report. Use of Proceeds Not applicable. Issuer Purchases of Equity Securities The following table presents information about our repurchases of common stock during the three months ended December 31, 2020 (in thousands, except share and per share amounts): Period Total Number of Shares Purchased Average Price Paid Per Share Total Number of Shares Purchased as a Part of a Publicly Announced Program Approximate Dollar Value of Shares that May Yet be Purchased Under the Programs October 1, 2020 to October 31, 2020 96,955 $ 7.72 96,955 $ 5,394 November 1, 2020 to November 30, 2020 — $ — — $ 5,394 December 1, 2020 to December 31, 2020 221,925 $ 15.88 212,541 $ 2,040 Total 318,880 309,496 We are authorized to repurchase issued and outstanding shares of our common stock under a share repurchase program approved by our Board of Directors. Share repurchases may be made through open market purchases, privately negotiated transactions or otherwise, at times and in such amounts as management deems appropriate. The timing and actual number of shares repurchased will depend on a variety of factors including price, corporate and regulatory requirements and other market conditions. The repurchase program may be discontinued or suspended at any time and will be funded using our available cash. As of December 31, 2020 , the Company may repurchase an additional $2.0 million of shares under this program. Separate from the share repurchase program, our stock incentive plans allow for participants to exercise stock options by surrendering shares of common stock equivalent in value to the exercise price due. During the three months ended December 31, 2020, participants surrendered 9,384 shares of common stock in the exercise of stock options. Any shares surrendered to the Company in this manner are not available for future grant.