Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
(a) Unregistered Sales of Equity Securities
On May 8, 2024, we issued 22,874 shares of our common stock to the sellers of Traverse Systems as partial consideration for the acquisition. The offer and issuance of these shares of common stock were deemed to be exempt from registration under The Securities Act of 1933 ("Securities Act") in reliance on Section 4(a)(2) of the Securities Act promulgated thereunder as a transaction by an issuer not involving a public offering.
(c) Share Repurchases
Period Total Number
of Shares
Purchased Average Price
Paid per Share Total Number
of Shares
Purchased as
Part of Publicly
Announced
Program (1)
Approximate
Dollar Value of
Shares that
May Yet be
Purchased
Under the
Program (1)
April 1 - 30, 2024 30,893 $ 173.11 30,893 $ 21,662,000
May 1 - 31, 2024 34,632 191.73 34,632 15,022,000
June 1 - 30, 2024 29,870 183.90 29,870 9,529,000
Total 95,395 $ 183.25 95,395 $ 9,529,000
For more information regarding our share repurchase programs, refer to Note J to our condensed consolidated financial statements, included in Part I of this Quarterly Report on Form 10-Q.
(1) On July 26, 2022 (announced July 27, 2022), our board of directors authorized a program to repurchase up to $50.0 mill ion of our common stock, excluding costs to obtain. Under the program, purchases may be made from time to time in the open market or in privately negotiated purchases, or both. The share repurchase program became effective August 26, 2022 and expires on July 26, 2024.
On July 23, 2024 (announced July 25, 2024), our board of directors authorized a program to repurchase up to $100.0 million of our common stock, excluding costs to obtain. Under the program, purchases may be made from time to time in the open market or in privately negotiated purchases, or both. The share repurchase program will become effective August 23, 2024 and expires on July 24, 2026.
Item 3. Defaults Upon Senior Securities
Not Applicable.
Item 4. Mine Safety Disclosures
Not Applicable.
SPS COMMERCE, INC.
29
Form 10-Q for the Quarterly Period ended June 30, 2024
Table of Contents
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