ORRSTOWN FINANCIAL SERVICES INC
For the period ended Sep 30, 2024. Filed Nov 12, 2024.
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Sep 30, 2024 · Filed Nov 12, 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
| (a) | (b) | (c) | (d) | |
|---|---|---|---|---|
| Period | Total number of shares (or units) purchased | Average price paid per share (or unit) | Total number of shares (or units) purchased as part of publicly announced plans or programs | Maximum number (or approximate dollar value) of shares (or units) that may yet be purchased under the plans or programs |
| July 1, 2024 to July 31, 2024 | — | $— | — | 28,467 |
| August 1, 2024 to August 31, 2024 | — | — | — | 28,467 |
| September 1, 2024 to September 30, 2024 | — | — | — | 28,467 |
| Total | — | $— | — |
In September 2015, the Board of Directors of the Company authorized a share repurchase program pursuant to which the Company may repurchase up to 416,000 shares of the Company's outstanding shares of common stock, in accordance with all applicable securities laws and regulations, including Rule 10b-18 of the Exchange Act, as amended. On April 19, 2021, the Board of Directors authorized the additional future repurchase of up to 562,000 shares of its outstanding common stock for a total of 978,000 shares. When and if appropriate, repurchases may be made in open market or privately negotiated transactions, depending on market conditions, regulatory requirements and other corporate considerations, as determined by management. Share repurchases may not occur and may be discontinued at any time. For the three months ended September 30, 2024, the Company repurchased zero shares of its common stock. At September 30, 2024, 949,533 shares had been repurchased under the program at a total cost of $21.2 million, or $22.36 per share. Common stock available for future repurchase totals approximately 28,467 shares, or 0.1% of the Company's outstanding common stock at September 30, 2024.
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