ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
The Company has a stock repurchase plan through which purchases can be made from time to time in the open market and through privately negotiated transactions, subject to general market conditions. The repurchase program is financed utilizing available cash. In June 2015, the Company
’s Board of Directors authorized an increase of $25 million to its stock repurchase plan. As of October 2, 2016, $9.1 million remained authorized under the plan. On October 4, 2016 the Company’s Board of Directors authorized an additional increase to the stock repurchase plan, restoring the amount available for repurchase to $25 million.
The following table sets forth, for the months indicated, the Company
’s purchase of common stock during the first three months of fiscal 2017, which includes the period July 4, 2016 through October 2, 2016:
|
Period
|
|
Total Number of Shares Purchased
|
|
Average Price Paid Per Share
(1)
|
|
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs
|
|
Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs (in thousands)
(2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(in thousands, except average price paid per share)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
07/04/16 - 07/31/16
|
|
95.0
|
|
$9.31
|
|
95.0
|
|
$11,161
|
|
08/01/16 - 08/28/16
|
|
100.0
|
|
$9.31
|
|
100.0
|
|
$10,227
|
|
08/29/16 - 10/02/16
|
|
123.6
|
|
$9.21
|
|
123.6
|
|
$9,085
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
318.6
|
|
$9.27
|
|
318.6
|
|
|
(1) Average price per share excludes commissions and other transaction fees.
(2
) Average price per share excludes commissions and other transaction fees.
