Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Purchases of Equity Securities
On June 25, 2021, the Company announced the authorization by the Board of Directors to repurchase up to 5% of the Company’s outstanding common stock, or 3.0 million shares. The stock repurchase plan has no scheduled expiration date and the Board of Directors has the right to suspend or discontinue the plan at any time. The Company repurchased 322,337 shares of its common stock during the three month period ended March 31, 2025. At March 31, 2025, there were 1,228,863 shares available for repurchase under the Company’s stock repurchase program.
Total Number of
Shares Purchased Average Price Paid per Share Total Number of
Shares Purchased as Part of Publicly Announced Plan or Program Maximum Number
of Shares that May
Yet Be Purchased
Under the Plan or
Program
January 1, 2025 through January 31, 2025 — $ — — 1,551,200
February 1, 2025 through February 28, 2025 13,704 17.89 13,704 1,537,496
March 1, 2025 through March 31, 2025 308,633 16.97 308,633 1,228,863
For the three months ended March 31, 2025, there were 76,058 shares that were repurchased outside of the Company’s stock repurchase program at an average share price of $18.01. The Company repurchased these shares from employees that elected to sell to cover their withholding tax obligations on vested stock awards. These shares were repurchased pursuant to the terms of the applicable plan and not under the Company’s share repurchase program.
Item 3. Defaults Upon Senior Securities
Not Applicable.
Item 4. Mine Safety Disclosures
Not Applicable.
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