PHOTRONICS INC
For the period ended Jul 28, 2024. Filed Sep 5, 2024.
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Jul 28, 2024 · Filed Sep 5, 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
In September 2020, the Company’s board of directors authorized the repurchase of up to $100 million of its common stock, pursuant to a repurchase plan under Rule 10b5-1 of the Securities Act. The share repurchase program commenced on September 16, 2020, and all shares repurchased under this program were retired. The following table provides information relating to the Company’s repurchase of common stock for the third fiscal quarter of 2024. This table excludes shares repurchased to settle employee tax withholding related to the vesting of stock awards.
| Total Number of Shares Purchased | Average Price Paid Per share | Total Number of shares Purchased as Part of Publicly Announced Program | Dollar Value of Shares That May Yet Be Purchased (in millions) | |
|---|---|---|---|---|
| April 29, 2024 – May 26, 2024 | - | - | - | $31.7 |
| May 27, 2024 – June 23, 2024 | - | - | - | $31.7 |
| June 24, 2024 – July 28, 2024 | - | - | - | $31.7 |
| Total | - | - |
On August 28, 2024, the board of directors authorized an increase to the Company’s existing share repurchase program from the remaining $31.7 million up to $100 million. As of the date of this report, there were no additional shares repurchased under this program
Certain lease arrangements include limitations on the amounts of dividends we may pay. Please refer to Note 7 of the condensed consolidated financial statements for information on these limitations.
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