Item 2. Unregistered Sales of Equity Securities
ITEM 2 – UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
Mid Penn adopted a treasury stock repurchase program initially effective March 19, 2020, and the program remains available as it was extended through March 19, 2023 by Mid Penn’s Board of Directors on March 23, 2022. The treasury stock repurchase program authorizes the repurchase of up to $15,000,000 of Mid Penn’s outstanding common stock, which represents approximately 3.5% of the issued shares based on Mid Penn’s closing stock price and shares issued as of March 31, 2022. Under the program, Mid Penn may conduct repurchases of its common stock through open market transactions (which may be by means of a trading plan adopted under SEC Rule 10b5-1) or in privately negotiated transactions. Repurchases under the program are made at the discretion of management and are subject to market conditions and other factors. There is no guarantee as to the exact number of shares that Mid Penn may repurchase.
A summary of treasury stock activity during the three months ended March 31, 2022 is presented below.
Approximate Dollar
Total Number of Shares
Value of Shares That
Total Number
Average
Purchased as Part of
May Yet Be
of Shares
Price
Publicly Announced
Purchased Under
Period
Purchased
Per Share
Plans or Programs
the Plans or Programs
January 1 - January 31, 2022
—
$
—
—
$
13,077,211
February 1 - February 28, 2022
—
$
—
—
$
13,077,211
March 1 - March 31, 2022
—
$
—
—
$
13,077,211
ITEM 3 – DEFAULTS UPON SENIOR SECURITIES
None
ITEM 4 – MINE SAFETY DISCLOSURES
Not Applicable
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.