RIVERVIEW BANCORP INC 10-K

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities Market Information and Holders The Company’s common stock is traded on the Nasdaq Global Market under the symbol “RVSB.” At June 14, 2023, there were 554 stockholders of record and an estimated 2,999 holders in nominee or “street name” through various brokerage firms. Purchases of Equity Securities by the Issuer and Affiliated Purchases On November 17, 2022, the Company announced that its Board of Directors authorized a stock repurchase program (the “November 2022 repurchase program”). Under the November 2022 repurchase program, the Company was authorized to repurchase up to $2.5 million of the Company’s outstanding shares of common stock, in the open market or in privately negotiated transactions, over a period beginning on November 28, 2022 and continuing until the earlier of the completion of the authorized level of repurchases or May 28, 2023, depending upon market conditions. As of March 31, 2023, the Company had repurchased 285,172 shares, or $1.9 million, of the Company’s outstanding shares at an average price of $6.74 per share. Shares repurchased under the November 2022 repurchase program are retired as settled. ​ The actual timing, number and value of shares repurchased under the November 2022 repurchase program will depend on a number of factors, including constraints specified in any Rule 10b5-1 plan, price, general business and market conditions, and alternative investment opportunities. The share repurchase program does not obligate us to acquire any specific number of shares in any period, and may be expanded, extended, modified or discontinued by our Board of Directors at any time. ​ The following table sets forth the Company’s repurchases of its outstanding common stock under the November 2022 repurchase program during the three months ended March 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Dollar ​ Maximum Dollar Value ​ ​ Total ​ Average ​ Value Purchased ​ of Shares that ​ ​ Number of ​ Price ​ as Part of Publicly ​ May Yet Be Purchased ​ ​ Shares ​ Paid per ​ Announced Stock ​ Under the Stock Period ​ Purchased ​ Share ​ Repurchase Program ​ Repurchase Program January 1, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 2,418,939 January 1, 2023 - January 31, 2023 ​ 42,814 ​ $ 7.33 ​ $ 313,862 ​ ​ 2,105,077 February 1, 2023 - February 28, 2023 ​ 105,791 ​ ​ 7.31 ​ ​ 773,668 ​ ​ 1,331,409 March 1, 2023 - March 31, 2023 ​ 125,770 ​ ​ 6.00 ​ ​ 754,000 ​ ​ 577,409 Total 274,375 ​ $ 6.71 $ 1,841,530 $ 577,409 ​ Equity Compensation Plan Information The equity compensation plan information presented in Part III, Item 12 of this Form 10-K is incorporated herein by reference. ​ Item 6. [Reserved] ​ ​ ​ ​ ​ ​ 46 Table of Contents