Item 2. Unregistered Sales of Equity Securities
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, the Company’s Board of Directors approved a 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 (“2020 Share Repurchase Program”). On November 4, 2020, the Company announced that its Board of Directors approved a new common stock repurchase program authorizing the repurchase of up to $15 million of its Class A Common Stock through December 31, 2022 (“Additional 2020 Share Repurchase Program”). Under the Additional 2020 Share Repurchase Program, which commenced immediately upon completion of the 2020 Share Repurchase 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 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 September 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)
July 1-31, 2020
167,945
$
18.42
167,945
$
8.8
August 1-31, 2020
176,085
17.85
176,085
5.7
September 1-30, 2020
185,319
16.97
185,319
2.5
Total
529,349
$
17.72
529,349
Item 3. Defaults Upon Senior Securities
None
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Table of Contents
Item 4. Mi ne Safety Disclosures
Not applicable
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.