Upland Software, Inc. 10-Q

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds Issuer Purchases of Equity Securities The following table provides information about purchases of equity securities that are registered by the Company pursuant to Section 12 of the Exchange Act during the three months ended September 30, 2023 (in thousands, except share and per share data). Period Total number of shares purchased (1) Average price paid per share (2) Total number of shares purchased as part of the publicly announced plan (3) Maximum approximate dollar value of shares that may yet be purchased under the plan 9/1/2023 - 9/30/2023 875,624 $ 4.10 783,356 $ 11,784,771 Total 875,624 $ 4.10 783,356 $ 11,784,771 (1) The total number of shares repurchased includes 92,268 shares withheld from employees to satisfy either the exercise price of stock options or the statutory withholding tax liability upon the vesting of share-based awards. (2) Average price paid per share excludes costs associated with the above mentioned repurchases. (3) On September 1, 2023, the Board of Directors authorized the Stock Repurchase Plan (as defined in Note 11. Stockholders’ Equity) in the aggregate amount of up to $15,000,000 that would allow the Company to repurchase shares of its issued and outstanding Common Stock, from time to time in the open market or otherwise including pursuant to a Rule 10b5-1 trading plan and in compliance with Rule10b-18 under the Exchange Act. The authorization does not have a specified expiration date. Accordingly, unless terminated earlier by resolution of the Board, the stock repurchase program will expire when the Company has repurchased all shares authorized for repurchase. The Company is not obligated to acquire any particular amount of Common Stock and may modify or suspend the repurchases at any time in the Company’s discretion. See Note 14. Subsequent Events regarding an authorized increase to the Share Repurchase Plan subsequent to September 30, 2023.