Unregistered Sales of Equity Securities and Use of Proceeds
−Removed: On April 24, 2019 the Corporation’s Board of Directors approved a stock repurchase program.
−Removed: Under the stock repurchase program, the Corporation is authorized to repurchase up to $10 million, or approximately 5%, of its common stock for 2019 and 2020.
−Removed: The program may be limited or terminated at any time without prior notice.
−Removed: During the three months ended September 30, 2020, the Corporation repurchased 288,400 shares of its common stock.
−Removed: The following table provides information with respect to purchases made by or on behalf of us or any “affiliated purchaser” (as defined in Rule 10b-18(a)(3) under the Exchange Act) of our common stock during the third quarter of 2020.
+Added: On November 24, 2020, the Company announced a stock repurchase program which was approved by the Board and authorized management to repurchase up to $5.0 million of the Company’s common stock.
+Added: During the first quarter of 2021, the Company repurchased 56,104 shares of its common stock under the repurchase plan.
+Added: The stock repurchase program is currently suspended due to the recent announcement of our merger with Severn.
+Added: The following table provides information with respect to purchases made by or on behalf of us or any “affiliated purchaser” (as defined in Rule 10b-18(a)(3) under the Exchange Act) of our common stock during the first quarter of 2021.
+Added: Stock Repurchase Plan $5.0 million (2020-2021)
Total Number of
7 unchanged sentences
Plans or Programs
−Removed: July 1, 2020 to July 31, 2020
−Removed: August 1, 2020 to August 31, 2020
−Removed: September 1, 2020 to September 30, 2020
−Removed: The Company has purchased all shares under the current stock repurchase program as of October 26, 2020.
+Added: January 1, 2021 to January 31, 2021
+Added: February 1, 2021 to February 28, 2021
+Added: March 1, 2021 to March 31, 2021
Defaults Upon Senior Securities
2 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.