Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Share Repurchases
In April 2025 , our Board of Directors approved a $200.0 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, 2025:
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, 2025 215,413 $ 41.35 215,413 $ 208,152,820
August 1 - 31, 2025 265,660 $ 42.11 207,463 $ 199,416,354
September 1 - 30, 2025 68,134 $ 44.16 66,861 $ 196,463,926
Total 549,207 489,737 $ 196,463,926
(1) Shares withheld from employees' stock-based awards to satisfy required tax withholding obligations totaled 58,197 for the month of August 2025 and 1,273 for the month of September 2025. There were no shares withheld during the month of July 2025.
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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