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) On July 8, 2020, the Company announced that the Board of Directors authorized the repurchase of up to 676,311 shares, or approximately 5% of the Company’s then outstanding common shares. This repurchase program will expire on July 8, 2021, unless completed sooner. The following table sets forth information with respect to our repurchases of our outstanding common shares during the three months ended September 30, 2020:
Total number of
shares purchased
as part of
publicly announced
plans or programs
Maximum number of shares that may yet be purchased under the plans or programs
Total
number of
shares
purchased
Average
price
paid
per share
July 1, 2020 - July 31, 2020
16,962
$
11.44
16,962
659,349
August 1, 2020 - August 31, 2020
320,882
11.43
320,882
338,467
September 1, 2020 - September 30, 2020
244,235
11.28
244,235
94,232
582,079
$
11.37
582,079
94,232
(d)
Subsequent to September 30, 2020, the Company completed its previously announced stock repurchase program, repurchasing the remaining 94,232 shares at an average price of $11.07 per share. On October 21, 2020, the Board of Directors of the Company authorized a second stock repurchase program for up to 664,969 shares, or approximately 5%, of its outstanding shares. See “Item 5. Other Information” in Part II of this report below.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
Nothing to report.
ITEM 4. MINE SAFETY DISCLOSURES
Not applicable.
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