UNIVEST FINANCIAL Corp
For the period ended Mar 31, 2024. Filed Apr 30, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed Apr 30, 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
The following table provides information on repurchases by the Corporation of its common stock under the Corporation's Board approved program.
| ISSUER PURCHASES OF EQUITY SECURITIES | ||||
|---|---|---|---|---|
| Period | Total Numberof SharesPurchased | AveragePrice Paidper Share 1 | Total Number ofShares Purchased asPart of PubliclyAnnounced Plans orPrograms | Maximum Number ofShares that May Yet BePurchased Under thePlans or Programs |
| January 1 – 31, 2024 | 45,803 | $22.01 | 45,803 | 1,156,886 |
| February 1 – 29, 2024 | 165,355 | 20.09 | 165,355 | 991,531 |
| March 1 – 31, 2024 | 104,349 | 20.35 | 104,349 | 887,182 |
| Total | 315,507 | $20.45 | 315,507 | |
- Average price paid per share includes stock repurchase excise tax.
On May 27, 2015, the Corporation's Board of Directors approved the repurchase of 1,000,000 shares, or approximately 5% of the Corporation's common stock outstanding as of May 27, 2015. On October 26, 2022, the Corporation's Board of Directors approved the repurchase of 1,000,000 additional shares, or approximately 3.4% of the Corporation's common stock outstanding as of September 30, 2022. The stock repurchase plans do not include normal treasury activity such as purchases to fund the dividend reinvestment, employee stock purchase and equity compensation plans. The plans have no scheduled expiration date and the Board of Directors has the right to suspend or discontinue the plans at any time.
In addition to the repurchases disclosed above, participants in the Corporation's stock-based incentive plans may have shares withheld to cover income taxes upon the vesting of restricted stock awards and may use a stock swap to exercise stock options. Shares withheld to cover income taxes upon the vesting of restricted stock awards and stock swaps to exercise stock options are repurchased pursuant to the terms of the applicable plan and not under the Corporation's share repurchase program. Shares repurchased pursuant to these plans during the three months ended March 31, 2024 were as follows:
| Period | Total Number of Shares Purchased | Average Price Paid per Share |
|---|---|---|
| January 1 – 31, 2024 | 1,158 | $21.80 |
| February 1 – 29, 2024 | — | — |
| March 1 – 31, 2024 | — | — |
| Total | 1,158 | $21.80 |
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