Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
Repurchases of Equity Securities
The Company’s stock repurchase program has been extended and expanded several times, most recently in July 2023, when the Board of Directors reauthorized 500,000 shares of common stock for repurchase under the initial September 2011 authorization. Since the reauthorization, the Company has repurchased 25,984 shares of its common stock under this repurchase program.
No shares were repurchased under the Company’s stock repurchase program during the first quarter of 2025. See Part I, Item 2, Management ’ s Discussion and Analysis of Financial Condition and Results of Operations – Liquidity and Capital Resources, of this report for discussion of the shares of common stock purchased by the Company in May 2025 pursuant to the self-tender offer commenced by the Company on April 3, 2025.
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