On February 14, 2023, the Board authorized the Company to repurchase, on the open market, shares of the Company’s outstanding common stock in an amount not to exceed $60.0 million in aggregate.

In May 2022, the Board authorized the Company to repurchase, on the open market, shares of the Company’s outstanding common stock in an amount not to exceed $60.0 million in aggregate. During the year ended December 31, 2022, the Company repurchased 1,474,300 shares of common stock at an average price of $33.47 under this program, of which $48.7 was paid in cash during the year ended December 31, 2022.

As of December 31, 2022, $10.6 million remained available for repurchase under the May 2022 stock repurchase program. Under the program, repurchases of the Company's common stock may be made in open market transactions effected through a broker-dealer at prevailing market prices, in block trades or by other means in accordance with Rules 10b-18, to the extent relied upon, and 10b5-1 under the Exchange Act at times and prices considered to be appropriate at the Company's discretion. The stock repurchase program does not obligate the Company to repurchase any particular amount of common stock, has no fixed termination date, and may be suspended at any time at the Company's discretion.

Share repurchase activity under the May 2022 stock repurchase program for the year ended December 31, 2022 was as follows:


(millions, except for share and per share data)	December 31, 2022
Total number of shares repurchased		1,474,300
Average price paid per share	$	33.47
Total value of stock repurchased	$	49.4

No shares were repurchased by the Company during the year ended December 31, 2021.

The remaining authorized repurchase amount under the May 2022 repurchase program as of December 31, 2022 is as follows:


(millions)	December 31, 2022
Total authorized repurchase amount	$	60.0
Total value of shares repurchased		49.4
Total remaining authorized repurchase amount	$	10.6