Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Share Repurchases
In August 2021, our Board of Directors authorized a $100 million share repurchase program. The authorization does not have any time limit.
The following table presents the share-repurchase activity for the quarter ended December 31, 2023 (in thousands except share and per share data):
Period Total number of shares purchased (1)
Average price paid per share Total number of shares purchased as part of the publicly announced plan or program Approximate dollar value of shares that may yet be purchased under the plan or program
October 1 - 31, 2023 — — — $ 66,163,962
November 1 - 30, 2023 32,567 $ 32.73 — $ 66,163,962
December 1 - 31, 2023 36,544 $ 34.29 36,305 $ 64,913,399
Total 69,111 36,305 $ 64,913,399
(1) Includes 32,806 shares withheld from employees' stock-based awards to satisfy required tax withholding obligations for the months of November and December 2023. There were no shares withheld during the month of October 2023.
Dividends
We have never declared or paid a cash dividend. Under the terms of our credit facility, the payment of cash dividends is restricted.
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