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 October 21, 2020, the Board of Directors of the Company authorized a second stock repurchase program for the repurchase of up to 664,969 shares, or approximately 5% of the Company’s then outstanding common shares. Subsequent to June 30, 2021, the Company completed the second stock repurchase program, repurchasing the remaining 46,566 shares under the program at an average price of $14.90 per share. On May 19, 2021, the Board of Directors authorized a third stock repurchase program for up to 1,263,841 shares, or approximately 10% of its outstanding shares. This repurchase program commenced on July 2, 2021 following completion of the second stock repurchase program, and will expire in July 2022 unless completed sooner. The following table sets forth information with respect to our repurchases of our outstanding common shares during the three months ended June 30, 2021:
Total
number of
shares
purchased Average
price
paid
per share 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
April 1, 2021 - April 30, 2021 89,001 $ 13.93 89,001 327,584
May 1, 2021 - May 31, 2021 116,534 13.92 116,534 211,050
June 1, 2021 - June 30, 2021 164,484 14.43 164,454 1,310,407 (1)
370,019 $ 14.15 369,989 1,310,407 (1)
(1) Includes 46,566 shares under second repurchase program and 1,263,841 shares under third repurchase program.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
Nothing to report.
ITEM 4. MINE SAFETY DISCLOSURES
Not applicable.
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