Quarterly report pursuant to Section 13 or 15(d)

Note 14 - Stockholders' Equity

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Note 14 - Stockholders' Equity
 9 Months Ended
Aug. 31, 2024
Notes to Financial Statements  
Equity [Text Block]

 

14.

STOCKHOLDERS' EQUITY

 

Stock Buyback Program

On July 31, 2024, the Company's Board of Directors approved a plan to buy back up to $10 million worth of shares of Common Stock (the “Stock Buyback Program”).  The Company's Stock Buyback Plan is intended to return capital to shareholders and to minimize the dilutive impact of stock options and other share-based awards.  The Stock Buyback Program will expire on the sooner of the two-year anniversary of its initiation or until we reach the aggregate limit of $10 million for the repurchases under the program.  The repurchased shares are recorded as part of treasury stock and are accounted for under the cost method. In the three months ended August 31, 2024, we repurchased 0.3 million shares of common stock for $3.0 million.

 

The following table summarizes the treasury stock activity during the three months ended August 31, 2024:

 

                       
   

Number of Shares (in thousands)

    

Cost of Shares (in thousands)

    

Average Cost per Share

  

June 2024

     —     $ —     $—  

July 2024

     —       -     -  

August 2024

     291       2,994     10.3  

Total

     291     $ 2,994    

$10.3