Item 8.01. Other Events.
On September 10, 2020 the Board of Directors (the "Board") of The Goldfield
Corporation (the "Company") approved an extension of the Company's Stock
Repurchase Plan (the "Plan"), originally adopted on September 17, 2002. The
Company's Board has extended the Plan from September 30, 2020 until September
30, 2021. The Plan authorizes the repurchase of up to 6,000,000 shares. As of
September 10, 2020, the Company had repurchased 3,273,880 shares of common stock
pursuant to the Plan, at an average cost of $1.05 per share, and is authorized
to purchase an additional 2,726,120 shares pursuant to the Plan. As of September
10, 2020, the Company had 24,522,534 shares and 230,000 restricted stock units
outstanding. Further information regarding this stock repurchase plan is set
forth under Item 5 in the Company's Annual Report on Form 10-K for the year
ended December 31, 2019.
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