Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
(a)
Not applicable.
(b)
Not applicable.
(c)
The table below represents the Corporation’s purchases of its equity securities for the third quarter of fiscal 2021.
Period
(a) Total
Number of
Shares Purchased
(b) Average
Price Paid per
Share
(c) Total Number of
Shares Purchased as
Part of Publicly
Announced Plan
(d) Maximum
Number of Shares
that May Yet Be
Purchased Under the
Plan (1)
January 1 – 31, 2021
—
$
—
—
371,815
February 1 – 28, 2021
21,420
$
16.38
21,420
350,395
March 1 – 31, 2021
33,287
$
16.84
33,287
317,108
Total
54,707
$
16.66
54,707
317,108
(1)
Represents the remaining shares available for future purchases under the April 2020 stock repurchase plan.
During the quarter and nine months ended March 31, 2021, the Corporation purchased 54,707 shares of the Corporation’s common stock under the April 2020 stock repurchase plan with a weighted average
cost of $16.66 per share. As of March 31, 2021, there are 317,108 shares available for purchase until the plan expires on April 27, 2022. The Corporation will purchase the shares from time to time in the open market or through privately negotiated
transactions depending on market conditions, the capital requirements of the Corporation, and available cash that can be allocated to the stock repurchase program, among other considerations.
During the quarter ended March 31, 2021, there were 129,000 stock options that were exercised with a weighted average strike price of $7.43 per share and no restricted stock activity. For the nine
months ended March 31, 2021, there were 129,000 stock options that were exercised with a weighted average strike price of $7.43 per share, 5,500 stock options that were forfeited, 9,000 shares of restricted stock were forfeited and 9,000 shares of
restricted stock were vested. The Corporation purchased 3,061 shares from recipients to fund their withholding tax obligations in the first nine months of fiscal 2021 with an average cost of $12.01 per share.
During the quarter and nine months ended March 31, 2021, the Corporation issued 129,000 shares of common stock from the exercise of certain stock options with a weighted average strike price of
$7.43 per share. During the quarter and nine months ended March 31, 2021, the Corporation did not sell any securities that were not registered under the Securities Act of 1933.
Item 3. Defaults Upon Senior Securities.
Not applicable.
69
Item 4. Mine Safety Disclosures.
Not applicable.
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