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. Repurchases under these programs will be made at management's discretion from time to time on the open market or in privately negotiated transactions and through Rule 10b5-1. We spent $19.5 million in the second quarter of fiscal 2025 to repurchase 0.5 million shares, pursuant to a Rule 10b5-1 plan and as discretionary purchases. As of October 26, 2024, 4.3 million shares remained available for repurchase pursuant to the board authorization. With the operating cash flows we anticipate generating in fiscal 2025, we expect to continue repurchasing Company stock, subject to market conditions and other factors as deemed relevant by our board of directors.
The following table summarizes our repurchases of Company stock during the quarter ended October 26, 2024 and includes shares purchased from employees to satisfy their withholding tax obligations upon vesting of restricted shares:
(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 August (July 28 – August 31, 2024) 454 $ 41.64 454 4,278
Fiscal September (September 1 – September 28, 2024) 13 $ 43.77 13 4,265
Fiscal October (September 29 – October 26, 2024) — $ 40.37 — 4,265
Total (Fiscal Second Quarter of 2025)
467 467 4,265
(1) In addition to the 466,734 shares we repurchased during the quarter as part of our publicly announced, board-authorized plan described above, this column includes 139 shares we 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, 33.5 million shares have been added to the plan for repurchase. The authorization has no expiration date.
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