SANDRIDGE ENERGY INC
For the period ended Mar 31, 2025. Filed May 8, 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.
Mar 31, 2025 · Filed May 8, 2025
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Unregistered Sales of Equity Securities and Use of Proceeds
ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds
Our current equity-based compensation plans include provisions that allow for the “net exercise” of share-settled vested awards by all plan participants. In a net exercise, any required payroll taxes, federal withholding taxes and exercise price of the shares due from the share-based award holders are settled by having the holder tender back to us a number of shares at fair value equal to the amounts due. Net exercises are treated as purchases and retirements of shares.
The following table presents a summary of share repurchases made by the Company during the three months ended March 31, 2025.
| Period · Total Number of Shares Purchased(1) · Average Price Paid per Share · Total Number of Shares Purchased as Part of Publicly Announced Program(2) · Maximum Approximate Dollar Value of Shares that May Yet Be Purchased Under the Program (in Millions)(2) | |||||
|---|---|---|---|---|---|
| January 1, 2025 - January 31, 2025 | — | $— | — | $— | |
| February 1, 2025 - February 28, 2025 | — | $— | — | $— | |
| March 1, 2025 - March 31, 2025 | 464,945 | $11.27 | 452,230 | $69.7 | |
| Total | 464,945 | 452,230 | |||
| (1) Includes 12,715 shares of common stock tendered by employees in order to satisfy tax withholding requirements upon vesting of their stock awards. Shares withheld are initially recorded as treasury shares, then immediately retired. | |||||
| (2) In May 2023, the Company's Board of Directors approved the initiation of a share repurchase program authorizing the Company to purchase up to an aggregate of $75.0 million of the Company’s common stock. | |||||
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