Ready Capital Corp 10-Q

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds ​ Share Repurchase Program ​ On March 6, 2018, our Board of Directors approved a share repurchase program authorizing, but not obligating, the repurchase of its common stock, and on September 29, 2022, our Board of Directors approved an increase to the size of the share repurchase program bringing the total authorized repurchases thereunder to $50.0 million. Repurchases under the stock repurchase program may be made at management’s discretion from time to time on the open market, in privately negotiated transactions or otherwise, in each case subject to compliance with all Securities and Exchange Commission rules and other legal requirements and may be made in part under one or more Rule 10b5-1 plans, which permit stock repurchases at times when the Company might otherwise be precluded from doing so. The timing and amount of repurchase transactions will be determined by the Company’s management based on its evaluation of market conditions, share price, legal requirements and other factors. ​ The table below presents purchases of our common stock during the quarter. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Shares Purchased ​ ​ Average Price Paid per Share ​ Total Number of Shares Purchased as Part of Publicly Announced Program ​ ​ Maximum Shares (or Approximate Dollar Value) That May Yet Be Purchased Under the Program January ​ 37,650 ​ $ 11.14 ​ — ​ $ — February ​ 73,803 ​ ​ 13.05 ​ — ​ ​ — March ​ — ​ ​ — ​ — ​ ​ — Total ​ 111,453 (1) ​ $ 12.40 (2) ​ — ​ $ — (1) Total shares purchased includes shares of common stock owned by certain of our employees which have been surrendered by them to satisfy their tax and other compensation related to withholdings associated with the vesting of restricted stock units. (2) The price paid per share is based on the price of our common stock as of the date of the withholding. ​ ​ Item 3. Default Upon Senior Securities ​ None. ​ ​ Item 4. Mine Safety Disclosures ​ Not applicable. ​ ​