Company: DXPE
Filing Date: 2025-04-30
Form Type: ARS
Source: 0001020710-25-000081
Chunk: 94

Company: DXP ENTERPRISES INC
Filing Date: 2025-04-30
Form: ARS
Chunk 94
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 all matters presented to a vote of shareholders generally, voting as a class with the holders of common stock, and are not entitled to any dividends or distributions other than in the event of a liquidation of the Company, in which case the holders of the Series A preferred stock are entitled to $100 liquidation preference per share. Series B Convertible Preferred Stock Each share of the Series B convertible preferred stock is convertible into 56 shares of common stock and a monthly dividend per share of $0.50. The holders of the Series B convertible stock are entitled to a $100 liquidation preference per share after payment of the distributions to the holders of the Series A preferred stock and to one-tenth of a vote per share on all matters presented to a vote of shareholders generally, voting as a class with the holders of the common stock. The activity related to outstanding common stock was as follows (in thousands): December 31, 2024 2023 2022 Common Stock: Balance, beginning of period 16,177 17,690 18,580 Issuance of shares for compensation net of withholding 86 47 47 Restricted shares (2) 147 47 Issuance of common stock related to purchase of businesses — — 267 Purchase of shares held in treasury (566) (1,707) (1,251) Balance, end of period 15,695 16,177 17,690 NOTE 14 - SHARE REPURCHASE On December 15, 2022, the Company announced a new Share Repurchase Program pursuant to which we may repurchase up to $85.0 million worth, or 2.8 million shares of the Company's outstanding common stock over the next 24 months. The Company completed the program in August 2024. On August 28, 2024, the Company announced a new Share Repurchase Program pursuant to which we may repurchase up to $85.0 million worth, or 2.5 million shares of the Company's outstanding common stock over the next 24 months. The following table represents total number of shares purchased, the amount paid, and the average price paid per share under share repurchase programs authorized by our Board of Directors: Twelve Months Ended December 31, 2024 2023 2022 (in millions, except per share data) Total number of shares purchased 0.6 1.7 1.3 Amount paid $ 28.8 $ 54.7 $ 35.2 Average