Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity and Use of Proceeds
Items 2. (a) and (b) are not applicable.
2. (c) Share Repurchases
On February 21, 2017, the Company's Board of Directors approved the repurchase of up to $100.0 million of the Company's common shares from time to time at market prices. The Company has adopted a Rule 10b5-1(c)(1) trading arrangement as defined in Item 408 of Regulation S-K under the Securities Exchange Act of 1934, as amended. The Company's remaining authorization for common share repurchases was $68.1 million at March 31, 2025. In connection with the Combination Agreement entered into with Kestrel, Maiden has suspended its common share repurchase program.
The table below details repurchases made during the three months ended March 31, 2025 under the Company's authorized common share repurchase plan pursuant to Rule 10b5-1(c)(1) under the Securities Exchange Act of 1934:
For the Three Months Ended March 31, 2025 Total number of shares repurchased Average price paid per share Total number of shares purchased as part of publicly announced plans or programs Dollar amount still available under trading plan
($ in thousands)
January 1, 2025 - January 31, 2025 — $ — — $ 68,107
February 1, 2025 - February 28, 2025 — — — 68,107
March 1, 2025 - March 31, 2025 — — — 68,107
Total — $ — — 68,107
Subsequent to the three months ended March 31, 2025 and through the period ended May 12, 2025, the Company did not repurchase any additional common shares under the Company's authorized common share repurchase plan pursuant to Rule 10b5-1(c)(1) under the Securities Exchange Act of 1934, as amended. The Company's remaining share repurchase authorization was $68.1 million at May 12, 2025.
Item 3. Defaults Upon Senior Securities
None.
Item 4. Mine Safety Disclosures
Not applicable.
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