Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
During the nine month period ended September 30, 2022, the Company repurchased shares of its common stock as indicated in the following table:
Period Total
Number of
Shares
Purchased 1
Average Price
Paid Per Share Total Number of
Shares Purchased
as part of Public
Announced Plan Maximum
Value of
Shares that May
Yet be Purchased
Under the Plan
(in thousands)
1/1/22 to 1/31/22 940 $ 35.39 — $ 100,000
2/1/22 to 2/28/22 — — — 100,000
3/1/22 to 3/31/22 — — — 100,000
Total - 1st Quarter 940 $ 35.39 — $ 100,000
4/1/22 to 4/30/22 39,489 34.34 — 100,000
5/1/22 to 5/31/22 — — — 100,000
6/1/22 to 6/30/22 — — — 100,000
Total - 2nd Quarter 39,489 $ 34.34 — $ 100,000
7/1/22 to 7/31/22 3,247 34.28 — 100,000
8/1/22 to 8/31/22 — $ — — 100,000
9/1/22 to 9/30/22 — $ — — 100,000
Total - 3rd Quarter 3,247 $ 34.28 — $ 100,000
1 Shares purchased from January 1, 2022 through September 30, 2022 represent shares surrendered to the Company to satisfy tax withholding related to the exercise of stock options and the vesting of share-based awards.
On December 15, 2021, the Company's Board of Directors authorized the renewal of the Company’s share repurchase program, under which the Company may, from time to time, purchase up to $100 million of its shares of outstanding common stock.
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Under the share repurchase program, which will expire on December 31, 2022, repurchases will be made, if at all, in accordance with applicable securities laws and may be made from time to time in the open market, by block purchase or by negotiated transactions. The amount and timing of repurchases, if any, will be based on a variety of factors, including share acquisition price, regulatory limitations, market conditions and other factors. The program does not obligate the Company to purchase any of its shares, and may be terminated or amended by the Board of Directors at any time prior to its expiration date. As of September 30, 2022, no shares of the Company's common stock had been repurchased under the program.
Item 3. Defaults upon Senior Securities
None.
Item 4. Mine Safety Disclosures
None.
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.