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. On July 16, 2025, the Company announced its Board of Directors authorized a 2025 Stock Repurchase Program to repurchase up to an additional 3.0 million shares. The stock repurchase plans have no scheduled expiration date and the Board of Directors has the right to suspend or discontinue the plan at any time. The Company repurchased 1,002,579 shares of its common stock during the three month period ended June 30, 2025. At June 30, 2025, there were 226,284 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
April 1, 2025 through April 30, 2025 — $ — — 1,228,863
May 1, 2025 through May 31, 2025 535,263 17.33 535,263 693,600
June 1, 2025 through June 30, 2025 467,316 16.96 467,316 226,284
For the three months ended June 30, 2025, 971 shares were repurchased outside of the Company’s stock repurchase program at an average share price of $17.00. The Company repurchased these shares from employees that elected to exercise vested stock options. 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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