Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
The following table details purchases by UTMD of its own securities during 3Q 2024.
ISSUER PURCHASES OF EQUITY SECURITIES
Period
(a)
Total number of shares purchased (1)
(b)
Average price paid per share (1)
(c)
Total number of shares purchased as part of publicly announced plans or programs (1)
(d)
Maximum number (or approximate dollar value) of shares that may yet be purchased under the plans or programs (1)
07/01/24 – 07/31/24
6,684
66.11
N/A
N/A
08/01/24 – 08/31/24
15,101
66.17
N/A
N/A
09/01/24 – 09/30/24
36,592
66.26
N/A
N/A
Total
58,377
66.22
N/A
N/A
1) None of the shares were purchased as part of a specific publicly-announced plan and all were purchased on the open market.
2) The total number of shares repurchased to-date in 2024 through November 11 was 245,497 at an average cost of $66.90/ share, approximately 6.8% of prior year-end 2023 outstanding shares.
The frequency of UTMD’s open market share repurchases depends on the availability of sellers and the price of the stock. The board of directors has not established an expiration date or a maximum dollar or share limit for UTMD’s continuing and long-term pattern of opportunistic open market share repurchases since 1992.
The purpose of UTMD’s ongoing share repurchases is to maximize the value of the Company for its continuing stockholders, and maximize its return on stockholder equity by employing excess cash generated by effectively managing its business . UTMD does not intend to repurchase shares that would result in terminating its Nasdaq Global Market listing.
Item 6. Exhibits
Exhibit #
Title of Document
31.1
Certification of CEO pursuant to Rule 13a-14(a) as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2
Certification of Principal Financial Officer pursuant to Rule 13a-14(a) as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1
Certification of CEO pursuant to 18 U.S.C. §1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2
Certification of Principal Financial Officer pursuant to 18 U.S.C. §1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101
The following financial information from the Utah Medical Products, Inc. quarterly report on Form 10-Q for the quarter ended September 30, 2024, formatted in Inline Extensible Business Reporting Language (iXBRL): (i) Consolidated Condensed Balance Sheets, (ii) Consolidated Condensed Statements of Income, (iii) Consolidated Condensed Statements of Cash Flows, (iv) Consolidated Condensed Statements of Stockholders’ Equity, and (v) related Notes to the Consolidated Condensed Financial Statements, tagged in detail.
104
Cover Page Interactive Data File (embedded within the Inline XBRL document)
18
Table of Contents
SIGNATURES
Pursuant to the requirements of the Securities Exchanges Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
UTAH MEDICAL PRODUCTS, INC.
REGISTRANT
Date: 11/12/24 By: /s/ Kevin L. Cornwell
Kevin L. Cornwell
CEO
Date: 11/12/24 By: /s/ Brian L. Koopman
Brian L. Koopman
Principal Financial Officer
19
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.