Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered
Sales of Equity Securities and Use of Proceeds
(a) Sales
of Unregistered Securities – None
(b) Use
of Proceeds – Not Applicable
(c) Issuer
Purchases of Securities
Stock Repurchase Program
The Company
has an approved one-year stock repurchase program that authorizes the repurchase of up to 500,000 of the Company’s common shares
through March 31, 2023. Repurchases may be made through open market purchases or in privately negotiated transactions. Shares repurchased
will be returned to the status of authorized and unissued shares of common stock. The actual means and timing of any purchases, number
of shares and prices or range of prices will be determined by the Company.
Shares
of the Company’s common stock were repurchased during the three months ended March 31, 2023, as detailed below. Under the terms
of the stock repurchase program, the Company has the remaining authority to repurchase up to 406,473 shares of common stock. On February
27, 2023, the board of directors approved an extension of the repurchase program through March 31, 2024.
35
Period
Beginning on First Day of Month Ended
Total
Number of Shares Purchased
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 Plans or Programs
January
31, 2023
6,970
$
2.30
6,970
419,435
February
28, 2023
1,787
$
2.41
1,787
417,648
March
31, 2023
11,175
$
2.26
11,175
406,473
Total
19,932
$
2.28
19,932
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.