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Note 13 - Stockholders' Equity | 12 Months Ended
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Nov. 30, 2024
Notes to Financial Statements |
Equity [Text Block] |
13. | STOCKHOLDERS’ EQUITY
Stock Buyback Plan 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 sharebased 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 twelve months ended November 30, 2024, we repurchased 0.3 million shares of common stock for $3.8 million. The following table summarizes repurchases made during the fiscal year ended November 30, 2024:
|  | Number of |  |  |  |  |  |  | Average Cost |
|  | Shares |  |  | Cost of Shares |  |  | per Share |
Shares purchased - March 2024 |  |  | 21,905 |  |  | $ | 253,003 |  |  | $ | 11.6 |
Shares purchased - August 2024 |  |  | 291,141 |  |  |  | 2,994,296 |  |  |  | 10.3 |
Shares purchased - September 2024 |  |  | 506 |  |  |  | 5,695 |  |  |  | 11.3 |
Shares purchased - October 2024 |  |  | 35,678 |  |  |  | 499,997 |  |  |  | 14.0 |
Total |  |  | 349,230 |  |  | $ | 3,752,991 |  |  | $ | 10.7 |
In March 2024, 21,905 units were repurchased by the Company for $0.3 million for shares withheld to pay the payroll tax liability of the vesting RSUs and treated as treasury stock.

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