Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
The Company's credit agreements contain certain limits on share repurchases. See “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Liquidity and Capital Resources."
The following table details purchases of the Company's common stock made by the Company during the three months ended December 31, 2021:
(a)
Total number of
shares purchased (b)
Average price paid
per share (c)
Total number of shares purchased
as part of publicly announced
plans or programs (d)
Approximate dollar value of shares
that may yet be purchased
under the plans or programs (1)
October 1 through October 31, 2021 6,000 $ 160.66 6,000 $ 14,498,580
November 1 through November 30, 2021 43,605 200.52 43,605 5,755,015
December 1 through December 31, 2021 44,117 218.45 44,117 46,112,727
Total for the quarter 93,722 $ 206.41 93,722
On June 16, 2021, the Board of Directors authorized the Company to repurchase up to $30.0 million of the Company's outstanding common stock in addition to the amount that remained available for repurchase under prior repurchase authorizations. On December 7, 2021, the Board of Directors authorized the Company to repurchase up to $50.0 million of the Company's outstanding common stock inclusive of any amount that remains available for repurchase under prior repurchase authorizations. As of December 31, 2021, the Company had $46.1 million remaining in aggregate repurchase capacity under its authorizations. The timing and actual number of shares of common stock repurchased will depend on a variety of factors, including the stock price, corporate and regulatory requirements, available funds, alternative uses of capital, restrictions under the revolving credit agreement, and other market and economic conditions. The share repurchase program does not have an expiration date and may be suspended, modified or discontinued at any time at the Company’s discretion without prior notice.
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.