FRANKLIN ELECTRIC CO INC
For the period ended Sep 30, 2024. Filed Oct 31, 2024.
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Sep 30, 2024 · Filed Oct 31, 2024
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Unregistered Sales of Equity Securities and Use of Proceeds
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
(c) Issuer Repurchases of Equity Securities
In April 2007, the Company's Board of Directors approved a plan to increase the number of shares remaining for repurchase from 628,692 to 2,300,000 shares. There is no expiration date for this plan. On August 3, 2015, the Company's Board of Directors approved a plan to increase the number of shares remaining for repurchase by an additional 3,000,000 shares. The authorization was in addition to the 535,107 shares that remained available for repurchase as of July 31, 2015. In February 2023, the Company’s Board of Directors approved a plan to increase the number of shares remaining for repurchase by an additional 1,000,000 shares. The authorization was in addition to the 215,872 shares that remained available for repurchase as of February 16, 2023. The Company repurchased 91,973 shares for approximately $8.7 million under the plan during the third quarter of 2024. The maximum number of shares that may still be purchased under this plan as of September 30, 2024 is 367,593. In October 2024, the Company’s Board of Directors approved a plan to increase the number of shares remaining for repurchase by an additional 1,000,000 shares. After giving effect to the October 2024 approval, the maximum number of shares that may still be purchased under this plan as of October 31, 2024 is 1,367,593.
| Period | Total Number of Shares Repurchased | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Plan | Maximum Number of Shares that may yet to be Repurchased |
|---|---|---|---|---|
| July 1 - July 31 | 91,973 | $94.71 | 91,973 | 367,593 |
| August 1 - August 31 | — | $— | — | 367,593 |
| September 1 - September 30 | — | $— | — | 367,593 |
| Total | 91,973 | $94.71 | 91,973 | 367,593 |
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