Perma-Pipe International Holdings, Inc. 10-Q

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds   The stock repurchase program, which was approved by the Company's Board of Directors on October 4, 2021, expired on October 3, 2022. The repurchase program authorized the Company to use up to $3.0 million for the purchase of its outstanding shares of common stock. Stock repurchases were permitted to be executed through open market or privately negotiated transactions over the course of 12 months, depending upon current market conditions and other factors. In total, the Company used $2.0 million of the $3.0 million authorized to repurchase its outstanding shares of common stock under the program. There were no purchases of shares of the Company's common stock made by or on behalf of the Company during the three months ended October 31, 2022.   On July 26, 2022, the Company retired all treasury stock previously repurchased under the stock repurchase program. The retirement was recorded as a reduction to common stock based on the par value of the shares, and the excess over par value was r ecorded as an increase to accumulated deficit in accordance with ASC 505-30, Equity - Treasury Stock .   The following table sets forth information with respect to repurchases by the Company of its shares of common stock during the program (In thousands, except per share data) :     Period   Total number of shares purchased     Average price paid per share     Total number of shares purchased as part of publicly announced plans or programs     Approximate dollar value of shares that may yet be purchased under the plans or programs   October 1, 2021 - October 31, 2021     59     $ 8.45       59     $ 2,505   November 1, 2021 - November 30, 2021     21       8.55       21       2,323   December 1, 2021 - December 31, 2021     56       7.99       56       1,872   January 1, 2022 - January 31, 2022     98       8.81       98       1,008   July 1, 2022 - July 31, 2022     5       8.85       5       964   Total     239               239             Item 6. Exhibits   31.1 Rule 13a - 14(a)/15d - 14(a) Certifications (1) Chief Executive Officer certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 31.2 Rule 13a - 14(a)/15d - 14(a) Certifications (2) Chief Financial Officer certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 32 Section 1350 Certifications (Chief Executive Officer and Chief Financial Officer certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002) 101.INS Inline XBRL Instance Document (the Instance Document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document) 101.SCH Inline XBRL Taxonomy Extension Schema 101.CAL Inline XBRL Taxonomy Extension Calculation 101.DEF Inline XBRL Taxonomy Extension Definition 101.LAB Inline XBRL Taxonomy Extension Labels 101.PRE Inline XBRL Taxonomy Extension Presentation 104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)   27 Table of Contents   SIGNATURES     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.         Perma-Pipe International Holdings, Inc.             Date: December 6, 2022 /s/ David J. Mansfield     David J. Mansfield     President and Chief Executive Officer     (Principal Executive Officer)       Date: December 6, 2022 /s/ D. Bryan Norwood     D. Bryan Norwood     Vice President and Chief Financial Officer     (Principal Financial and Accounting Officer)   28