Item 2. Unregistered Sales of Equity Securities
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 set forth in the Company's Restated Articles of Incorporation. Under the current authorization, 1,196,143 shares remain available for repurchase as of June 30, 2023.
The following table shows the monthly fiscal 2023 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 2022
— $ — — 1,294,842
November 2022
88,042 27.54 88,042 1,206,800
December 2022
983 27.54 983 1,205,817
January 2023
— — — 1,205,817
February 2023
549 37.09 549 1,205,268
March 2023
7,057 37.79 7,057 1,198,211
April 2023
— — — 1,198,211
May 2023
— — — 1,198,211
June 2023
2,068 38.86 2,068 1,196,143
Total 98,699 $ 28.56 98,699
Item 3. Defaults Upon Senior Securities
Not Applicable.
Item 4. Mine Safety Disclosures
Not Applicable.
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Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.