LIQUIDITY SERVICES INC 10-Q

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds Unregistered Sales of Equity Securities None. Use of Proceeds Not applicable. 39 Issuer Purchases of Equity Securities The following table presents information about our repurchases of common stock during the three months ended March 31, 2022 (in thousands, except share and per share amounts): Period Total Number of Shares Purchased 1 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 January 1, 2022 to January 31, 2022 78,584 $ 20.77 78,584 $ 15,405 February 1, 2022 to February 28, 2022 764,653 $ 16.40 764,653 $ 2,863 March 1, 2022 to March 31, 2022 168,644 $ 16.97 168,644 $ — Total 1,011,881 1,011,881 1 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 March 31, 2022, participants surrendered 0 shares of common stock in the exercise of stock options, respectively. Any shares surrendered to the Company in this manner are not available for future grant. From time to time, we have been 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 March 31, 2022, the Company had no authorization to repurchase shares.