Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
(a) Not applicable
(b) Not applicable
(c) Stock Repurchases
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The following table sets forth the shares repurchased by the Company during the quarter ended June 30, 2023:
Period Total No. of Shares Repurchased Average Price Paid Per Share Total No. of Shares Purchased as Part of Publicly Announced Plan Maximum No. of Shares that May Yet Be Purchased Under the Plan (1)
4/1/2023 - 4/30/2023 5,293 $ 25.76 5,293 178,919
5/1/2023 - 5/31/2023 50,707 23.68 50,707 128,212
6/1/2023 - 6/30/2023 54,000 24.75 54,000 74,212
Total 110,000 $ 24.31 110,000 74,212
(1) On February 24, 2021, the Company announced a plan to repurchase 415,970 shares of the Company's common stock. This repurchase program was terminated on July 25, 2023. On July 25, 2023 the Company announced the adoption of a new stock repurchase program. Under the new repurchase program, Timberland may repurchase up to 5% or the outstanding shares, or 404,708 shares. The new stock repurchase program replaces the existing stock repurchase program, which had 74,212 shares available to be repurchased. The July 2023 repurchase program does not have a set expiration date and will expire upon repurchase of the full amount of authorized shares. The repurchase program may be suspended, terminated or modified at any time for any reason, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity, and other factors deem appropriate.
Item 3. Defaults Upon Senior Securities
Not applicable.
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Item 4. Mine Safety Disclosures
Not applicable.
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