Company: MCFT
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0000950170-25-015130
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Company: MasterCraft Boat Holdings, Inc.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part II, Item 1A
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During the six months ended December 29, 2024, there have been no material changes to the risk factors disclosed in “Part I, Item 1A. Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended June 30, 2024.

ITEM 2. UNREGISTERED SALES OF SECURITIES AND USE OF PROCEEDS.

Share Repurchase Program

On July 24, 2023, the Board of the Company authorized a share repurchase program under which the Company may repurchase up to $50.0 million of its outstanding shares of common stock. The authorization became effective upon the completion of the Company's previously existing $50.0 million stock repurchase authorization.

During the first six months of fiscal 2025, we repurchased approximately $4.2 million of our common stock, including approximately $0.7 million during the three months ended December 29, 2024, excluding related fees and expenses. As of December 29, 2024, the remaining authorization under the new program was approximately $31.2 million. 

During the three months ended December 29, 2024, the Company repurchased the following shares of common stock: 

    Period
     
    Total Number of Shares Purchased

    Average Price Paid Per Share(a)(b)

    Total Number of Shares Purchased as part of Publicly Announced Program

    Approximate Dollar Value of Shares that May Yet be Purchased Under the Plan                         (dollars in thousands)

    September 30, 2024 - October 27, 2024

    12,128

    $
    16.86

    12,128

    $
    31,699

    October 28, 2024 - November 24, 2024

    11,579

    18.96

    11,579

    31,479

    November 25, 2024 - December 29, 2024

    15,886

    20.43

    15,886

    31,155

    Total

    39,593

    39,593

(a)Represents weighted average price paid per share excluding commissions paid.

(b)Average price per share excludes any excise tax imposed on certain stock repurchases as part of the Inflation Reduction Act of 2022.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES