Victory Capital Holdings, Inc. 10-Q

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds (c) Issuer purchases of equity securities. The share repurchase program authorized in 2019 for $15.0 million of the Company’s Class A common stock was completed in June 2020. On May 26, 2020, our Board of Directors approved a new common stock repurchase program authorizing the Company to repurchase up to an aggregate of $15.0 million of the Company’s Class A common stock through December 31, 2021. Under the new program, which commenced immediately upon completion of the 2019 program, the Company may purchase its shares in privately negotiated transactions, through block trades, pursuant to open market purchases, or pursuant to any trading plan adopted in compliance with Rule 10b5-1. The manner, timing, share number and price, of the repurchases will be determined by the Company, subject to market conditions, applicable securities laws, alternative investment opportunities and other factors. The Board’s authorization does not obligate the Company to acquire any particular amount of Class A common stock, and may be modified, suspended or terminated at any time. The following table sets out information regarding purchases of equity securities by the Company for the three months ended June 30, 2020. Total Number of Shares Approximate Dollar Value Total Number of Average Price of Class A Common That May Yet Be Purchased Shares of Class A Paid Per Share Stock Purchased as Part of Under Outstanding Common Stock of Class A Publicly Announced Plans or Programs Period Purchased Common Stock Plans or Programs (in millions) April 1-30, 2020 140,050 $ 14.78 140,050 $ 2.0 May 1-31, 2020 125,593 15.12 125,593 0.1 June 1-30, 2020 191,225 16.83 191,225 11.9 Total 456,868 $ 15.73 456,868 Item 3. Defaults Upon Senior Securities None 41 Table of Contents Item 4. Mi ne Safety Disclosures Not applicable