Item 2. Unregistered Sales of Equity Securities
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
(a) Sales of Unregistered Securities
Shares of the Company's Class B Common Stock may be converted immediately into Class A Common Stock on a one-for-one basis by the holder. There is no cash or other consideration paid by the holder converting the shares and, accordingly, there is no cash or other consideration received by the Company. The shares of Class A Common Stock issued by the Company in such conversions are exempt from registration pursuant to Section 3(a)(9) of the Securities Act of 1933, as amended.
No shares of the Company's Class B common stock were converted into Class A common stock during third quarter of fiscal 2026.
(b) Not Applicable
(c) Issuer Purchases of Equity Securities
The number and average price of shares purchased in each fiscal month of the third quarter of fiscal 2026 are set forth in the table below:
Period (1) Total Number
of Shares
Purchased (2) Average Price
Paid Per Share Total Number of
Shares Purchased
as Part of Publicly
Announced Plans
or Programs Maximum
Dollar Value of
Shares that May
Yet Be Purchased
Under the Plans
or Programs (3)
January 25, 2026 to February 21, 2026
— $ — — $ 1,348,854
February 22, 2026 to March 21, 2026
190,757 42.79 — 1,348,854
March 22, 2026 to April 25, 2026
— — — 1,348,854
Total 190,757 42.79 —
(1) The reported periods conform to our fiscal calendar.
(2) Represents shares surrendered to the Company to satisfy employee-related taxes withheld on restricted stock that vested during the period.
(3) Includes amount remaining under the $5.0 million repurchase program of the Company's Class A Common Stock authorized by the Board of Directors and announced on September 13, 2019 . Repurchases may be made from time-to-time through a variety of methods, including open market purchases and other negotiated transactions, including through plans designed to comply with Rule 10b5-1 under the Securities Exchange Act of 1934.
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.