NATHANS FAMOUS, INC. 10-Q

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds .   In 2016, the Company’s Board of Directors authorized increases to the sixth stock repurchase plan for the purchase of up to 1,200,000 shares of its common stock on behalf of the Company. As of June 26, 2022, Nathan’s has repurchased 1,086,820 shares at a cost of $38,178,000 under the sixth stock repurchase plan. At June 26, 2022, there were 113,180 shares remaining to be repurchased pursuant to the sixth stock repurchase plan. The plan does not have a set expiration date. Purchases under the Company’s stock repurchase program may be made from time to time, depending on market conditions, in open market or privately-negotiated transactions, at prices deemed appropriate by management. There is no set time limit on the repurchases.   On June 14, 2022, the Company’s Board of Directors approved the 10b5-1 Plan which will expire on the earlier of (a) September 13, 2022 or (b) the earlier of when the aggregate purchases under the 10b5-1 Plan equals 50,000 shares unless terminated earlier by the Company’s Board of Directors.   ISSUER PURCHASES OF EQUITY SECURITIES Period (A)   Total Number of Shares Purchased (B)     Average Price Paid per Share     Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs     Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs   March 28, 2022 April 24, 2022     -       -       -       133,550   April 25, 2022 May 22, 2022     -       -       -       133,550   May 23, 2022 June 26, 2022     20,370       $52.49       20,370       113,180   Total     20,370       $52.49       20,370       113,180       (A) Represents the Company’s fiscal periods during the quarter ended June 26, 2022.   (B) The shares of the Company’s common stock were purchased pursuant to the 10b5-1 Plan.   -28-     Item 3. Defaults Upon Senior Securities.   None.     Item 4. Mine Safety Disclosures.   None.