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Stockholders' Equity
9 Months Ended
Sep. 30, 2018
Stockholders' Equity Note [Abstract]  
Stockholders' Equity
Stockholders’ Equity

Stock Repurchases

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, the Company's Board of Directors authorized an additional $20.0 million repurchase of the Company's common stock from time to time on the open market or in privately negotiated transactions (together with the April 2013 Repurchase Program, the “Repurchase Programs”).

No repurchases or retirements were made in conjunction with the Repurchase Programs during the three months ended September 30, 2018 or 2017 or the nine months ended September 30, 2018. During the nine months ended September 30, 2017, the Company repurchased and retired 775,370 shares of its common stock using $13.3 million of cash for such repurchases at an average price paid per share of $17.18.
 
As of September 30, 2018, the Company has repurchased a total of 1,640,012 shares of its common stock for an aggregate of $27.7 million with approximately $12.3 million remaining under the Repurchase Programs.

Earnings per Share

The calculation of diluted earnings per share for the three months ended September 30, 2018 excludes a weighted average number of restricted stock and employee stock purchase plan (“ESPP”) shares of 103 and 3,113, respectively because to include them would be antidilutive. There were no antidilutive weighted average stock options excluded from the dilutive EPS calculation for the three months ended September 30, 2018. For the three months ended September 30, 2017, the calculation of diluted earnings per share excludes a weighted average number of stock options, restricted stock, and employee stock purchase plan shares of 179,932, 104, and 1,280 respectively, because to include them would be antidilutive.

The calculation of diluted earnings per share for the nine months ended September 30, 2018 excludes a weighted average number of stock options, restricted stock, and employee stock purchase plan shares of 39,840, 788, and 1,257, respectively, because to include them would be antidilutive. For the nine months ended September 30, 2017, the calculation of diluted earnings per share excludes a weighted average number of stock options, restricted stock, and employee stock purchase plan shares of 203,304, 396, and 427 respectively, because to include them would be antidilutive.

Stock Options Exercises

Following approval by the Company's Board of Directors, 100,000 expiring options held by our Chief Executive Officer were exercised on September 26, 2018 as a net option exercise, whereby all the options were exercised, and the Company withheld enough of the resulting shares to cover the option cost and taxes. Accordingly, 29,187 shares were transferred to our Chief Executive Officer, 37,606 shares, or $1.3 million, were withheld to cover the option cost, and 33,207 shares, or $1.1 million, were withheld to cover taxes. Additional information is set forth in the Form 4 filed with the SEC on September 28, 2018.