Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equit y Securities and Use of Proceeds.
Issuer Purchases of Equity Securities
The following table provides information relating to the Company's repurchase of common stock during the three months ended March 31, 2026 pursuant to the Stock Repurchase Program:
Period (1)
Total number of shares purchased
Average price paid per share (2)
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
January 1, 2026 - January 31, 2026
10,500
$
50.08
10,500
$
18,136,305
February 1, 2026 - February 28, 2026
42,312
$
41.51
42,312
$
16,380,007
March 1, 2026 - March 31, 2026
10,688
$
39.20
10,688
$
15,960,996
Total
63,500
$
42.54
63,500
(1) From April 1, 2026 to April 30, 2026, the Company purchased an additional 9,750 shares at an average price of $37.74 per share pursuant to the Stock Repurchase Program.
(2) Exclusive of commission fees incurred in relation to the repurchase of common stock.
On May 2, 2022, the Company's Board of Directors authorized the Stock Repurchase Program to repurchase the Company's common stock from time to time through open market purchases, privately negotiated transactions or other means, including pursuant to Rule 10b5-1 trading plans, which was subsequently amended on each of December 19, 2023, March 28, 2024, and November 3, 2025, bringing the total authorization to $30.0 million. The Stock Repurchase Program does not obligate the Company to repurchase any shares and may be modified, suspended, or terminated at any time at the discretion of the Board of Directors.
During the three months ended March 31, 2026, 50,000 shares were repurchased through a Rule 10b5-1 plan, and the remaining were made in open-market transactions outside of any Rule 10b5-1 trading plan. Such repurchases were made in accordance with the limitations set forth in Rule 10b-18 and applicable securities laws.
Since the inception of the Stock Repurchase Program and through April 30, 2026, the Company has purchased a total of $14.4 million of common stock at an average price of $22.79 per share.
Shares of common stock withheld as payment of withholding taxes in connection with the vesting of equity awards are also treated as common stock repurchases. Those withheld shares of common stock are not required to be disclosed under Item 703 of Regulation S-K and accordingly are excluded from the amounts mentioned above.
Item 3. Defaults Upon Senior Securities.
None.
Item 4. Mine Saf ety Disclosures.
Not Applicable.
23
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.