Item 2. Unregistered Sales of Equity Securities
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
Our board of directors has authorized the repurchase of company stock. During the fourth quarter of fiscal 2021, pursuant to the existing board authorization, we adopted a plan to repurchase company stock pursuant to Rule 10b5-1 of the Securities Exchange Act of 1934. The plan was effective April 2 6, 2021. Under this plan, our broker has the authority to repurchase company shares on our behalf, subject to SEC regulations and the price, market volume and timing constraints specified in the plan. The plan expires at the close of business on August 2 7, 2021 . We spent $35.6 million in the first quarter of fiscal 2022 to repurchase 0.9 million shares. As of July 24, 2021, 2.5 million shares remained available for repurchase pursuant to this authorization. With the cash flows we anticipate generating in fiscal 2022, we expect to continue repurchasing company stock.
The following table summarizes our repurchases of company stock during the quarter ended July 24, 2021:
(Unaudited, amounts in thousands, except per share data) Total number of
shares repurchased (1) Average price paid per share Total number of shares repurchased as part of publicly announced plan (2) Maximum number of shares that may yet be repurchased under the plan
Fiscal May (April 25 – May 29, 2021) 126 $ 43.43 126 3,319
Fiscal June (May 30 – June 26, 2021) 556 $ 38.18 483 2,836
Fiscal July (June 27 – July 24, 2021) 310 $ 37.62 310 2,526
Fiscal First Quarter of 2022 992 $ 38.67 919 2,526
(1) In addition to the 919,041 shares we repurchased during the quarter as part of our publicly announced, board-authorized plan described above, this column includes 73,885 shares repurchased from employees to satisfy their withholding tax obligations upon vesting of restricted and performance based shares.
(2) On October 28, 1987, our board of directors announced the authorization of the plan to repurchase company stock. The plan originally authorized 1.0 million shares, and since October 1987, 27.0 million shares have been added to the plan for repurchase. On August 17, 2021, the company's board of directors approved an additional 6.5 million shares to its existing share repurchase authorization. The authorization has no expiration date.
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