Red Violet Inc
For the period ended Mar 31, 2024. Filed May 8, 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 May 8, 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.
Issuer Purchases of Equity Securities
The following table provides information relating to the Company's repurchase of common stock during the three months ended March 31, 2024 pursuant to the Stock Repurchase Program:
| Period(1) | Total number of shares purchased | Average price paid per share(2) | Total number of shares purchased as part of publicly announced plans or programs | Approximate dollar value of shares that may yet be purchased under the plans or programs |
|---|---|---|---|---|
| January 1, 2024 - January 31, 2024 | 16,036 | $18.77 | 16,036 | $5,075,644 |
| February 1, 2024 - February 29, 2024 | 27,564 | $18.00 | 27,564 | $4,579,445 |
| March 1, 2024 - March 31, 2024 | 233,340 | $20.18 | 233,340 | $4,870,824 |
| Total | 276,940 | $19.88 | 276,940 |
(1)
From April 1, 2024 to April 30, 2024, the Company purchased an additional 14,939 shares at an average price of $18.54 per share pursuant to the Stock Repurchase Program.
(2)
Exclusive of commission fees incurred in relation to the repurchase of common stock.
On May 2, 2022, the board of directors of the Company authorized the repurchase of up to $5.0 million of the Company's common stock from time to time, and subsequently on each of December 19, 2023 and March 28, 2024, the board of directors authorized the repurchase of an additional $5.0 million of the Company's common stock (the "Stock Repurchase Program"). The Stock Repurchase Program does not obligate the Company to repurchase any shares and it may be modified, suspended, or terminated at any time and for any reason at the discretion of the board of directors.
Shares of common stock withheld as payment of withholding taxes in connection with the vesting of equity awards are also treated as common stock repurchases. Those withheld shares of common stock are not required to be disclosed under Item 703 of Regulation S-K and accordingly are excluded from the amounts in the table above.
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