Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Unregistered Sales of Equity Securities
None.
Company Repurchases of Equity Securities
The following table sets forth certain information with respect to repurchases of our common shares during the three months ended March 31, 2026 :
Period Total number of shares (or units) purchased (1)
Average price paid per share (2)
Total number of shares purchased as part of publicly announced plans or programs (3)
Maximum number of shares that may yet be purchased under the plans or programs
Jan 1- Jan 31, 2026
193,682 $7.43 — —
Feb 1- Feb 28, 2026
74,320 $7.48 — —
Mar 1- Mar 31, 2026
150,000 $9.29 150,000 1,780,131
Total 418,002 $8.11 150,000 1,780,131
(1) This amount includes 268,002 common shares acquired at a cost of $2.0 million to satisfy employee income tax withholding associated with RSUs vesting.
(2) Average price paid per share includes broker commissions but excludes taxes payable.
(3) On March 4, 2026, the Company's Board of Directors authorized and approved the 2026 Share Repurchase Program. Under the terms of the 2026 Share Repurchase Program, the Company may repurchase up to 1,930,131 of its common shares from time to time through open market purchases, block purchases or otherwise in accordance with applicable securities laws, including Rule 10b-18 of the Exchange Act. The 2026 Share Repurchase Program is set to expire in March 2027, unless earlier suspended or terminated.
Dividends
We have not declared or paid any cash or stock dividends on our common shares since our inception. Any future determination as to the declaration and payment of cash dividends will be at the discretion of the Board and will depend on then-existing conditions, including our financial condition, results of operations, contractual restrictions, capital requirements, business prospects, and other factors that the Board considers relevant. Our subsidiaries are restricted from maki ng distributions or dividend payments to us by the 2022 Senior Credit Facilities (as defined above), subject to certain exceptions. See Note 6 to the Financial Statements, included in Part I, Item 1, of this Quarterly Report on Form 10-Q for further information.
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Item 3. Defaults Upon Senior Securities
None.
Item 4. Mine 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.