Hamilton Beach Brands Holding Co
For the period ended Mar 31, 2025. Filed Apr 30, 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 Apr 30, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
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Unregistered Sales of Equity Securities and Use of Proceeds
| Issuer Purchases of Equity Securities (1) | ||||
|---|---|---|---|---|
| (a) | (b) | (c) | (d) | |
| Period | Total Number of Shares Purchased (2) | Average Price Paid per Share (3) | Total Number of Shares Purchased as Part of the Publicly Announced Program | Maximum Dollar Value of Shares that May Yet Be Purchased Under the Program |
| Month #1January 1 to 31, 2025 | 31,732 | $16.51 | 31,732 | $10,924,841 |
| Month #2February 1 to 28, 2025 | 39,121 | $— | — | $10,924,841 |
| Month #3March 1 to 31, 2025 | 109,703 | $19.69 | 109,703 | $8,764,857 |
| 180,556 | $18.98 | 141,435 | $8,764,857 | |
(1) In November 2023, the Company’s Board approved a stock repurchase program for the purchase of up to $25 million of the Company’s Class A Common outstanding starting January 1, 2024 and ending December 31, 2025.
(2) Of the repurchases made in February, 39,121 shares represent Class A Common of the Company that were withheld for tax payments due upon issuance of Class A Common to employees under the Incentive Plan. These shares were repurchased at an average price of $17.61. There were no shares withheld for tax payments in January or March.
(3)Average price paid per share includes costs associated with the repurchases but excludes the 1% excise tax on stock repurchases imposed by the Inflation Reduction Act of 2022.
During the three months ended March 31, 2025, the Company repurchased 141,435 shares at prevailing market prices for an aggregate purchase price of $2.7 million. There were no share repurchases during the three months ended March 31, 2024. During the year ended December 31, 2024, the Company repurchased 638,381 shares for an aggregate purchase price of $13.5 million (excluding the 1% excise tax as a result of the Inflation Reduction Act of 2022).
Additionally, during the three months ended March 31, 2025 and March 31, 2024, the Company withheld shares for tax payments due upon issuance of stock to employees under the Executive Long-Term Equity Incentive Compensation Plan (the “Incentive Plan”). During the three months ended March 31, 2025 and March 31, 2024, the Company repurchased 39,121 and 30,404 shares, respectively, for an aggregate purchase price of $0.7 million and $0.6 million, respectively, pursuant to the Incentive Plan.
The total combined share repurchases from the stock repurchase program and the Incentive Plan during the three months ended March 31, 2025 and March 31, 2024 was 180,556 and 30,404 shares, respectively, for an aggregate purchase price of $3.4 million and $0.6 million, respectively.
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