Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
This table provides information with respect to purchases by the Company of shares of its common stock during the quarter ended September 30, 2022:
Period Number of Shares Purchased (1)
Average Price Paid per Share (1)
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (2)
Maximum Number (or Approximate Dollar Value) of Shares that May Yet Be Purchased Under the Plans or Programs (2)
(in millions)
July 1, 2022 through July 31, 2022
26,886 $ 25.60 25,000 $ 47.2
August 1, 2022 through August 31, 2022
76,109 $ 25.73 75,000 $ 45.3
September 1, 2022 through September 30, 2022
510,864 $ 22.62 510,000 $ 33.7
Total 613,859 610,000
(1) These columns include the following transactions during the three months ended September 30, 2022: (i) the surrender to the Company of 3,666 shares of common stock to satisfy tax withholding obligations in connection with the vesting of restricted stock issued to employees, (ii) the purchase of 193 shares of common stock by the Trustee for assets held in a non-qualified employee profit sharing plan trust, and (iii) the purchase of 610,000 shares of common stock on the open market as part of our share repurchase program.
(2) In September 2021, our Board of Directors authorized a new share repurchase program effective September 9, 2021 through December 31, 2022. The new share repurchase program authorizes the Company to repurchase up to $250.0 million of its common stock. In December 2021, we entered into an ASR to repurchase $125.0 million of our common stock. Approximately 3,311,258 shares repurchased as part of the ASR were delivered to us in January 2022, representing approximately 80% of the total notional value of the ASR. The ASR was completed in April 2022. Shares repurchased during the three months ended September 30, 2022 totaled 610,000 shares, at a cost of approximately $14.1 million. As of September 30, 2022, the Company had a remaining authorization to repurchase up to $33.7 million of its common stock under the share repurchase program. Certain shares of stock repurchased during September 2022, totaling $2.6 million, were cash settled in October 2022 in accordance with normal settlement practices.The approximate dollar value of shares that were eligible to be repurchased under our share repurchase program is shown as of the end of such month or quarter.
Item 3. Defaults Upon Senior Securities
None.
Item 4. Mine Safety Disclosures
Not applicable.
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