MidCap Financial Investment Corp 10-Q

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds Unregistered Sales of Equity Securities None. Issuer Purchases of Equity Securities The Company adopted the following plans, approved by the Board of Directors, for the purpose of repurchasing its common stock in accordance with applicable rules specified in the 1934 Act (the “Repurchase Plans”): Date of Agreement/Amendment Maximum Cost of Shares That May Be Repurchased Cost of Shares Repurchased Remaining Cost of Shares That May Be Repurchased August 5, 2015 $ 50.0 million $ 50.0 million $ — December 14, 2015 50.0 million 50.0 million — September 14, 2016 50.0 million 50.0 million — October 30, 2018 50.0 million 50.0 million — February 6, 2019 50.0 million 23.1 million 26.9 million Total as of September 30, 2020 $ 250.0 million $ 223.1 million $ 26.9 million The Repurchase Plans were designed to allow the Company to repurchase its shares both during its open window periods and at times when it otherwise might be prevented from doing so under applicable insider trading laws or because of self-imposed trading blackout periods. A broker selected by the Company will have the authority under the terms and limitations specified in an agreement with the Company to repurchase shares on the Company’s behalf in accordance with the terms of the Repurchase Plans. Repurchases are subject to SEC regulations as well as certain price, market volume and timing constraints specified in the Repurchase Plans. Pursuant to the Repurchase Plans, the Company may from time to time repurchase a portion of its shares of common stock and the Company is hereby notifying stockholders of its intention as required by applicable securities laws. Under the Repurchase Plans described above, the Company allocated the following amounts to be repurchased in accordance with SEC Rule 10b5-1 (the “10b5-1 Repurchase Plans”): Effective Date Termination Date Amount Allocated to 10b5-1 Repurchase Plans September 15, 2015 November 5, 2015 $ 5.0 million January 1, 2016 February 5, 2016 10.0 million April 1, 2016 May 19, 2016 5.0 million July 1, 2016 August 5, 2016 15.0 million September 30, 2016 November 8, 2016 20.0 million January 4, 2017 February 6, 2017 10.0 million March 31, 2017 May 19, 2017 10.0 million June 30, 2017 August 7, 2017 10.0 million October 2, 2017 November 6, 2017 10.0 million January 3, 2018 February 8, 2018 10.0 million June 18, 2018 August 9, 2018 10.0 million September 17, 2018 October 31, 2018 10.0 million December 12, 2018 February 7, 2019 10.0 million February 25, 2019 May 17, 2019 25.0 million March 18, 2019 May 17, 2019 10.0 million June 4, 2019 August 7, 2019 25.0 million June 17, 2019 August 7, 2019 20.0 million September 16, 2019 November 6, 2019 20.0 million December 6, 2019 February 5, 2020 25.0 million December 16, 2019 February 5, 2020 15.0 million March 12, 2020 March 19, 2020 20.0 million 117 Table of Contents The following table presents information with respect to the Company’s purchases of its common stock since adoption of the Repurchase Plans through September 30, 2020: Month Total Number of Shares Purchased Average Price Paid Per Share* Total Number of Shares Purchased as Part of Publicly Announced Plans Maximum Dollar Value of Shares That May Yet Be Purchased Under Publicly Announced Plans August 2015 510,000 $ 19.71 510,000 $ 40.0 million September 2015 603,466 18.46 603,466 28.8 million November 2015 1,116,666 18.10 1,116,666 8.6 million December 2015 627,443 17.58 627,443 47.6 million January 2016 670,708 14.91 670,708 37.6 million June 2016 362,933 16.73 362,933 31.5 million July 2016 16,491 16.53 16,491 31.2 million August 2016 596,294 17.67 596,294 20.7 million September 2016 411,523 18.13 411,523 63.2 million October 2016 527,417 17.82 527,417 53.8 million November 2016 239,289 17.45 239,289 49.6 million August 2017 33,333 17.96 33,333 49.0 million September 2017 186,767 17.98 186,767 45.7 million October 2017 144,867 17.96 144,867 43.1 million November 2017 64,500 17.79 64,500 41.9 million December 2017 50,100 17.89 50,100 41.0 million January 2018 577,386 17.32 577,386 31.0 million February 2018 70,567 16.23 70,567 29.9 million May 2018 263,667 17.12 263,667 25.4 million June 2018 198,601 16.94 198,601 22.0 million July 2018 8,867 16.75 8,867 21.9 million August 2018 502,767 17.11 502,767 13.3 million September 2018 444,467 16.54 444,467 5.9 million October 2018 160,800 16.46 160,800 53.3 million November 2018 595,672 15.81 595,672 43.9 million December 2018 741,389 13.49 741,359 33.9 million February 2019 19,392 15.16 19,392 83.6 million March 2019 291,426 15.40 291,426 79.1 million April 2019 44,534 15.23 44,534 78.4 million May 2019 298,026 15.93 298,026 73.6 million June 2019 607,073 15.97 607,073 63.9 million July 2019 89,610 16.10 89,610 62.5 million August 2019 758,020 16.15 758,020 50.3 million September 2019 32,371 16.26 32,371 49.7 million October 2019 495,464 15.65 495,464 42.0 million November 2019 6,147 15.91 6,147 41.9 million March 2020 1,286,565 11.62 1,286,565 26.9 million Total 13,654,608 $ 16.34 13,654,578 ____________________ * The average price per share is inclusive of commissions. 118 Table of Contents Item 3. Defaults Upon Senior Securities None. Item 4. Mine Safety Disclosures Not applicable.