LGL GROUP INC
For the period ended Sep 30, 2025. Filed Nov 14, 2025.
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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.
Sep 30, 2025 · Filed Nov 14, 2025
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Stockholders' Equity
10. Stockholders' Equity
Shares Outstanding
The following table presents a rollforward of outstanding shares for the periods indicated:
| Nine Months Ended September 30, 2025 | Year Ended December 31, 2024 | |||||
|---|---|---|---|---|---|---|
| Common Stock Issued | Held in Treasury | Common Stock Outstanding | Common Stock Issued | Held in Treasury | Common Stock Outstanding | |
| Shares, beginning of year | 5,454,639 | (81,584) | 5,373,055 | 5,454,639 | (81,584) | 5,373,055 |
| Stock-based compensation | 16,156 | — | 16,156 | — | — | — |
| Shares issued from settlement of Warrants | 68,996 | — | 68,996 | — | — | — |
| Repurchases of common stock | — | (51,463) | (51,463) | — | — | — |
| Shares, end of period | 5,539,791 | (133,047) | 5,406,744 | 5,454,639 | (81,584) | 5,373,055 |
Warrants to Purchase Common Stock
As previously disclosed in our Annual Report on Form10-K, the Company issued 5,258,320 warrants (the "Warrants") in* November 2020.In connection with the spin-off of MtronPTI in October 2022,*pursuant to the warrant agreement, the exercise price was adjusted to $4.75 per share and the target trigger price for potential acceleration was adjusted to $6.65 per share (the "Adjusted Trigger Price").
On* March 4, 2025,the average volume weighted average price ("VWAP") of LGL Group common stock exceeded the Adjusted Trigger Price for30* consecutive trading days, which resulted in the Warrants becoming immediately exercisable.
During thethree months ended* September 30, 2025*, Warrant holders exercised 344,980, or 6.6%, of the Warrants, with an exercise price of $4.75 per share, in a net share settlement of 68,996 shares of LGL Group common stock. As of* September 30, 2025*, there were 4,913,340 Warrants outstanding.
On* November 6, 2025,the Company's Board of Directors (the "Board") approved an extension to the expiration date from November 16, 2025,a Sunday, which allowed holders to exercise their Warrants by the close of business on November 17, 2025,to Tuesday December 9, 2025.*Except for the change in expiration date, all other terms of the Warrants remain unchanged.
17
Share Repurchase Program
On* August 29, 2011,the Board authorized an expansion of its previously announced share repurchase program (the "Repurchase Program"), pursuant to which the Company may*repurchase up to an additional 347,491 shares of its common stock in accordance with applicable securities laws. This authorization increased the total number of shares authorized for repurchase under the Company's existing share repurchase program to 797,491 shares, of which 540,000 shares were available to be repurchased, at such times, amounts and prices as the Company shall deem appropriate.
On* September 19, 2025,the Board authorized the Company to repurchase up to 100,000 shares under the Repurchase Program. During thethree* months ended* September 30, 2025*, the Company repurchased 51,463 shares at an aggregate cost of $366, or an average price of $7.08 per share.
As of* September 30, 2025*, the Company had repurchased an aggregate of 133,047 shares of common stock at a cost of $946, all of which are currently held in treasury.
Refer to Unregistered Sales of Equity Securities and Use of Proceeds in Part II, Item2. of this Quarterly Report on Form10-Q for further information.
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