Stockholders' Equity

12 Months Ended

Dec. 31, 2023

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders’ EquityPreferred Stock

The Company has the authority to issue 10,000,000 shares of preferred stock with a par value of $0.001 per share.  The Board of

Directors has the authority, without action by the Company’s stockholders, to designate and issue shares of preferred stock in one or more

series.  The Board of Directors is also authorized to designate the rights, preferences, and voting powers of each series of preferred stock,

any or all of which may be greater than the rights of the common stock including restrictions of dividends on the common stock, dilution of the

voting power of the common stock, reduction of the liquidation rights of the common stock, and delaying or preventing a change in control of

the Company without further action by the Company’s stockholders.  To date, the Board of Directors has not designated any rights,

preferences, or powers of any preferred stock, and as of December 31, 2023 and 2022, no shares of preferred stock were issued or

outstanding.

Common Stock

The Company has the authority to issue 200,000,000 shares of common stock with a par value of $0.001 per share.  Subject to the

preferred rights of the holders of shares of any class or series of preferred stock as provided by the Board of Directors with respect to any

such class or series of preferred stock, the holders of the common stock shall be entitled to receive dividends, as and when declared by the

Board of Directors.  In the event of any liquidation, dissolution, or winding up of the Company, whether voluntary or involuntary, after the

distribution or payment to the holders of shares of any class or series of preferred stock as provided by the Board of Directors with respect to

any such class or series of preferred stock, the remaining assets of the Company available for distribution to stockholders shall be distributed

among and paid to the holders of common stock ratably in proportion to the number of shares of common stock held by them.

Share Repurchase ProgramOn March 9, 2021, the Board authorized a share repurchase program under which the Company may repurchase its outstanding

common stock, at the discretion of management, up to $50.0 million in aggregate cost, which includes both the share value of the acquired

common stock and the fees charged in connection with acquiring the common stock (the “March 2021 Authorization”).  On July 1, 2022, the

Company concluded all share repurchases under the March 2021 Authorization. 

As of December 31, 2023, the Company has repurchased 8.1 million shares of its common stock at an aggregate cost of $80.5 million

under the March 2021 Authorization and all previous share repurchase programs.