Item 2. Unregistered Sales of Equity Securities
Item 2.
Unregistered Sales of Equity Securities and Use of Proceeds
(a) On February 28, 2022, stock options
previously granted to a former Board member of
the Company,
pursuant to the
Amended and Restated
2015 Equity
Incentive Plan
covering 9,000
shares of
Class A common
stock at
an exercise
price
per share of $11.35
of the Company were
exercised for an aggregate
amount of $102 thousand.
The options were issued
while the former Board member was
still serving as a director and
prior to the issuer becoming a
reporting company under
the
Exchange
Act.
The
shares
of
Class
A
common
stock
subject
to
the
exercised
options
were
issued
pursuant
to
the
exemption provided by Rule 701 of the Securities Act
of 1933.
(b) Not applicable.
(c)
As
previously
described
The
Board
adopted
a
stock
repurchase
program
covering
750,000
shares
of
Class
A
common stock. No
shares were purchased
pursuant to such
program by the
Company during the
three and six
month ended
June 30, 2022.
Item 3.
Defaults Upon Senior Securities
None.
Item 4.
Mine Safety Disclosures
Not applicable.
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