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 all of which have been repurchased . In May 2024, our Board of Directors approved a new $100.0 million share repurchase authorization. The authorization does not have any time limit.
The following table presents the share-repurchase activity for the quarter ended September 30, 2024 (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
July 1 - 31, 2024 219,906 $ 46.49 219,906 $ 112,925,332
August 1- 31, 2024 318,748 $ 48.42 219,963 $ 102,274,946
September 1 - 30, 2024 148,267 $ 47.50 148,149 $ 95,237,613
Total 686,921 588,018 $ 95,237,613
(1) Shares withheld from employees' stock-based awards to satisfy required tax withholding obligations totaled 98,785 for the month of August 2024 and 118 for the month of September 2024. There were no shares withheld during the month of July 2024.
Dividends
We have never declared or paid a cash dividend. Under the terms of our credit facility, the payment of cash dividends is restricted.
42
Table of Contents
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.