Company: BTBDW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001477932-25-002248
Chunk: 227

Company: BT Brands, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 2
Chunk 227
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 security holders  239,250  $2.56   760,750 Equity compensation plans not approved by security holders.  100,000  $2.50   - 

Purchases of Equity Securities by the Issuer and Affiliated Purchasers.

Share Repurchase Program

On June 6, 2024, we authorized a stock repurchase program, under which we may repurchase up to 625,000 shares, or approximately 10.0%, of our currently issued and outstanding common stock (the “2024 Share Repurchase Program”). We have not established any maximum aggregate price to be paid for shares that we repurchase. As of December 29, 2024, we repurchased an aggregate of 306,394 including  91,394 shares under the 2024 Share Repurchase Program. We may purchase up to an additional 533,606 shares under the 2024 Share Repurchase Program. We are purchasing the shares with available cash and may repurchase shares of our common stock from time to time, in amounts, at prices, and at such times as we deem appropriate, subject to market conditions, legal requirements and other considerations. Our repurchases may be executed using open market purchases, unsolicited or solicited privately negotiated transactions or other transactions. The 2024 Share Repurchase Program does not obligate us to repurchase any specific number of shares and may be suspended, modified or terminated at any time without prior notice. The 2024 Share Repurchase Program does not contain a time limitation during which repurchases are permitted to occur.

The Company purchased 65,000 shares of its common stock in a single transaction in 2022, and in 2023, we initiated a share repurchase program. Under the repurchase program, 150,000 shares were purchased in 2023 and 91,394 in 2024, as summarized below 

Period Total number of shares purchased  Average price paid per share (1)   Shares purchased as part of publicly announced program Maximum  of shares that may yet be purchased under theprogramJanuary 1 – December 31, 2023  150,000  $1.668  150,000 600,000January 1, 2024 – December 29, 2024  91,394  $1.561  91,394 508,606

(1) Calculated inclusive of commissions.