MATTHEWS INTERNATIONAL CORP 10-Q

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds Stock Repurchase Plan The Company has a stock repurchase program. The buy-back program is designed to increase shareholder value, enlarge the Company's holdings of its common stock, and add to earnings per share. Repurchased shares may be retained in treasury, utilized for acquisitions, or reissued to employees or other purchasers, subject to the restrictions of the Company's Restated Articles of Incorporation. The Company's Board of Directors had authorized the repurchase of a total of 5,000,000 shares of Matthews' common stock under the program, of which 324,861 shares remained available for repurchase as of June 30, 2021. On July 28, 2021, the Company's Board of Directors authorized an additional 2,500,000 shares for repurchase under the program. The following table shows the monthly fiscal 2021 stock repurchase activity: Period Total number of shares purchased Weighted-average price paid per share Total number of shares purchased as part of a publicly announced plan Maximum number of shares that may yet be purchased under the plan October 2020 40,000 $ 22.25 40,000 498,736 November 2020 34,789 25.82 34,789 463,947 December 2020 87,502 27.99 87,502 376,445 January 2021 — — — 376,445 February 2021 — — — 376,445 March 2021 6,000 41.36 6,000 370,445 April 2021 — — — 370,445 May 2021 — — — 370,445 June 2021 45,584 36.53 45,584 324,861 Total 213,875 $ 28.76 213,875 Item 3. Defaults Upon Senior Securities Not Applicable. Item 4. Mine Safety Disclosures Not Applicable. 32