Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
(a) None.
(b) None.
(c) Issuer Purchases of Equity Securities
In May 2025, the Board authorized the repurchase of up to $ 200.0 million of the Company’s outstanding common shares, replacing the previously authorized plan to repurchase up to $100.0 million of the Company’s outstanding common shares through May 31, 2025.
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 common 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 repurchased 589,622 common shares during the three months ended March 31, 2026 in privately-negotiated transactions using a portion of the net proceeds from the Exchangeable Notes Offering. The remaining amount authorized to be repurchased under the program as of March 31, 2026 was approximately $ 180.0 million of common shares.
Period Total number of common shares purchased
Average price paid per common share
Total number of common shares purchased as part of publicly announced plans or programs
Approximate dollar value of common shares that may yet be purchased under the plans or programs
(in millions)
January 1, 2026 to January 31, 2026 589,622 $ 33.92 589,622 $ 180.0
February 1, 2026 to February 28, 2026 — — — 180.0
March 1, 2026 to March 31, 2026 — — — 180.0
Total 589,622 $ 33.92 589,622 $ 180.0
For certain restricted common shares that vested during the three months ended March 31, 2026, we withheld common shares with value equivalent up to the employees' obligation for the applicable income and other employment taxes, and remitted the cash to the appropriate taxing authorities. An aggregate of 245,766 common shares were withheld upon vesting for the three months ended March 31, 2026.
Item 3. Defaults Upon Senior Securities
None.
Item 4. Mine Safety Disclosures
Not applicable.
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