Capital Stock

12 Months Ended

Dec. 31, 2016

Capital Stock [Abstract]

Capital Stock

Capital Stock

The Company’s Amended and Restated Certificate of Incorporation provides for 105,000,000 authorized shares of capital stock consisting of 100,000,000 shares of common stock, each having a par value of $0.01 per share and 5,000,000 shares of preferred stock, each having a par value of $0.001.

The Board of Directors is authorized, without further stockholder approval, to issue from time to time up to an aggregate of 5,000,000 shares of preferred stock, in one or more series and to fix or alter the designations, preferences, rights, and any qualifications, limitations or restrictions, of the shares of each series thereof, including the dividend rights, dividend rates, conversion rights, voting rights, terms of redemption, including sinking fund provisions, redemption price or prices, liquidation preferences and the number of shares constituting any series or designation of series.

At December 31, 2016, the Company had reserved the following shares of common stock for future issuance under the Company’s 2009 Stock Incentive Plan and the Amended and Restated 2009 Employee Stock Purchase Plan (collectively, the “Plans”):

	Amount
	(In Thousands)
Shares under the 2009 Stock Incentive Plan	1,933
Shares under the Amended and Restated 2009 Employee Stock Purchase Plan	294
Total common stock reserved for future issuance under the Plans	2,227

On April 10, 2013, the Company announced that its Board of Directors authorized the repurchase of up to $20.0 million of the Company’s common stock (the “April 2013 Repurchase Program”). On May 23, 2016, our Board of Directors authorized an additional $20.0 million repurchase of our common stock from time to time on the open market or in privately negotiated transactions, together with the April 2013 Repurchase Program (collectively, the “Repurchase Programs”).

During the year ended December 31, 2016, the Company repurchased shares totaling $4.0 million under the Repurchase Programs.

As of December 31, 2016, there have been an aggregate of 864,642 shares repurchased for $14.4 million by the Company under the Repurchase Programs.