Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities
(a) None.
(b) None.
(c) Issuer Purchases of Equity Securities
In May 2023, the Board authorized the repurchase of up to $ 100.0 million of the Company’s outstanding common shares through May 31, 2025, replacing the previously authorized plan to repurchase up to $80.0 million of the Company’s outstanding common shares through May 31, 2023.
Repurchases of common shares may be made from time to time through open market, privately-negotiated, structured or derivative transactions (including accelerated share repurchase transactions), or other methods of acquiring shares. The Company intends to structure open market purchases to occur within pricing and volume requirements of Rule 10b-18. The Company may, from time to time, enter into Rule 10b5-1 plans to facilitate the repurchase of its common shares under this authorization. The Company did not repurchase any common shares during the three months ended March 31, 2024. The remaining amount authorized to be repurchased under the program as of March 31, 2024 was approximately $ 100.0 million of common shares.
Period Total number of shares purchased (1)
Average price paid per share Total number of shares purchased as part of publicly announced plans or programs Approximate dollar value of shares that may yet be purchased under the plans or programs
(in millions)
January 2, 2024 to January 31, 2024
82,495 $ 27.72 — $ 100.0
February 1, 2024 to February 29, 2024
261,673 28.07 — 100.0
March 1, 2024 to March 31, 2024
31,731 28.42 — 100.0
Total 375,899 $ 28.07 — $ 100.0
(1) Reflects common shares that were cancelled to satisfy tax withholding obligations upon the vesting of restricted common shares. The total number of common shares withheld upon vesting was 375,899 for the three months ended March 31, 2024. The total number of common shares withheld was based on the value of the restricted common shares on the vesting date as determined by our closing share price on the day prior to the vesting date.
Item 3. Defaults Upon Senior Securities
None.
Item 4. Mine Safety Disclosures
None
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