Item 2. Unregistered Sales of Equity Securities
Item
2. Unregistered Sales of Equity Securities and Use of Proceeds.
Recent
Sales of Unregistered Securities and Use of Proceeds from Registered Securities
None.
Issuer
Purchases of Equity Securities
On
April 22, 2025 the Company executed a 10b5-1 agreement with a broker to repurchase shares of the Company’s Class A Common Stock.
Under the terms of the agreement, the broker is permitted to repurchase up to $1,000,000 of the Company’s Class A Common Stock.
Purchases commenced April 23, 2025. The agreement is subject to the daily time, price and volume conditions of Rule 10b-18. The agreement
will expire on December 31, 2025.
The
following table shows the Company’s repurchase activity during the three-month period ended June 30, 2025 under the 10b5-1 agreement.
Period
(a)
Total Number of Class A Shares Purchased
(b)
Average Price Paid per Class A Share (1)
(c)
Total Number of Class A Shares Purchased as Part of Publicly Announced Plan or Program
(d)
Maximum Number (or Approximate Dollar Value) of Class A Shares that May Yet Be Purchased Under the Plan or Program (2)
4/1/2025-4/30/2025
24,039
$ 9.88
-
170,573
5/1/2025-5/31/2025
28,643
10.19
-
141,930
6/1/2025-6/30/2025
42,902
9.80
-
99,028
Total
95,584
$ 9.99
-
99,028
(1) Includes
fees and commissions paid on stock repurchases.
(2) In
September 2018, the Board of Directors of the Company approved a Stock Repurchase Plan that
authorized the repurchase of 300,000 shares of the Company’s Class A Common Stock in
the open market. The Company amended the Stock Repurchase Plan on December 4, 2020. The amendment
authorized the repurchase of a total of 1,000,000 shares of the Company’s Class A Common
Stock in the open market. Any repurchased shares of Class A common stock are to be held as
treasury shares to be used as the Company’s employer matching contribution to the Employee
401(k) Retirement Savings Plan and for shares held in the Deferred Compensation Plan.
75
Item
3. Defaults Upon Senior Securities.
None.
Item
4. Mine Safety Disclosures.
None.
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.