Sound Financial Bancorp, Inc. 10-Q

Item 2 Unregistered Sales of Equity Securities and use of Proceeds (a) Not applicable. (b) Not applicable. (c) On April 28, 2021, the Company announced that its Board of Directors authorized a stock repurchase program. Under this repurchase program, the Company could repurchase its outstanding shares in the open market in an amount up to $2.0 million, based on prevailing market prices, or in privately negotiated transactions, over a period beginning on April 29, 2021, and expiring on October 28, 2021. The Company purchased $30 thousand of its shares under this program. On October 26, 2021, the Company’s Board of Directors adopted a new stock repurchase program. Under this new repurchase program, the Company may repurchase its outstanding shares in the open market in an amount up to $2.0 million, based on prevailing market prices, or in privately negotiated transactions, over a period beginning on October 29, 2021, continuing until the earlier of the completion of the repurchase or the next six months, depending upon market conditions. The Company’s Board of Directors also authorized management to enter into a trading plan with a registered broker-dealer in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, to facilitate repurchases of its common stock pursuant to the above-mentioned stock repurchase program. The following table sets forth information with respect to our repurchases of our outstanding common shares during the three months ended September 30, 2021: Total Number of Shares Purchased (1) Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Approximated Dollar Value of Shares That May Yet be Purchased Under the Plans or Programs (2) July 1, 2021 - July 31, 2021 — $ — — $ 1,970,289 August 1, 2021 - August 31, 2021 100 $ 45.25 — 1,970,289 September 1, 2021 - September 30, 2021 — $ — — 1,970,289 Total 100 $ 45.25 — $ 1,970,289 ________________________ (1) Includes the surrender of shares of Company common stock that the participants already own as payment of the exercise price for stock options. Shares surrendered by participants in the equity incentive plans are repurchased pursuant to the terms of the plan and applicable award agreement and not pursuant to publicly announced share repurchase programs. (2) The Company may repurchase shares of its common stock from time-to-time in open market transactions. The timing, volume and price of purchases are made at our discretion, and are contingent upon our overall financial condition, as well as general market conditions. Item 3 Defaults Upon Senior Securities Nothing to report. Item 4. Mine Safety Disclosures 49 Table of Contents Not Applicable.