SKYWEST INC 10-Q

ITEM 2 . UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS Our Board of Directors has adopted a stock repurchase program which authorizes us to repurchase shares of our common stock in the public market or in private transactions, from time to time, at prevailing prices. Our stock repurchase program adopted in May 2023 authorized the repurchase of up to $250.0 million of our common stock. The Board approved a $250.0 million increase to the existing stock repurchase program in May 2025 and an additional $250 million increase to the existing stock repurchase program in July 2026. Following such increase, we are authorized to repurchase up to approximately $313 million of our common stock. The following table summarizes the repurchases under our stock repurchase program during the three months ended June 30, 2026: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Number of Shares Purchased ​ Average Price Paid Per Share ​ ​ ​ Total Number of Shares Purchased as Part of a Publicly Announced Program (1) ​ Maximum Dollar Value of Shares that May Yet Be Purchased Under the Program (in Thousands) April 1, 2026 - April 30, 2026 ​ 197,711 ​ $ 90.91 ​ 197,711 ​ $ 119,809 May 1, 2026 - May 31, 2026 ​ 194,910 ​ $ 84.51 ​ 194,910 ​ $ 103,337 June 1, 2026 - June 30, 2026 ​ 440,235 ​ $ 91.17 ​ 440,235 ​ $ 63,201 Total ​ 832,856 ​ $ 89.55 ​ 832,856 ​ $ 63,201 (1) In May 2023, our Board of Directors approved a stock repurchase program and authorized us to repurchase up to $250.0 million of our common stock. In May 2025, the Board approved a $250.0 million increase to the existing stock repurchase program. Purchases are made at management’s discretion based on market conditions and financial resources. As of June 30, 2026, we had repurchased 7,291,575 shares of our common stock for $436.8 million and had $63.2 million remaining availability under the stock repurchase program. In July 2026, subsequent to the end of the quarter, the Board approved an additional $250 million increase to the existing stock repurchase program. The July 2026 increase is not reflected in the “Maximum Dollar Value of Shares that May Yet Be Purchased Under the Program” column in the able above, which reflects only amount available as of the end of each month during the quarter ended June 30, 2026.