Stockholders' Equity

12 Months Ended

Dec. 31, 2022

Stockholders Equity Note [Abstract]

Stockholders' Equity

(12) Stockholders’ Equity

A reconciliation of the number of shares of our common stock follows:

	Year ended December 31,
	2022			2021			2020
	(In thousands)
Common stock, beginning of period		39,368			39,306			41,207
Shares issued for stock options exercised		-			10			-
Shares of common stock issued upon lapse of sales restrictions on RSUs		236			225			335
Common stock retired		(2,780	)		(173	)		(2,236	)
Common stock, end of period		36,824			39,368			39,306

The above reconciliation excludes RSUs and PSUs, which do not have voting rights. As sales restrictions on RSUs lapse and PSUs are earned, we issue common shares with voting rights. As of December 31, 2022, we had a total of 297,583 RSUs and 74,054 PSUs outstanding. The PSU outstanding balance is based on the number of PSUs granted pursuant to the award agreement; however, the

actual number of common shares earned could be higher or lower based on actual versus targeted performance. See Note 14 (Share-Based Transactions) for a discussion of the PSU award structure.

On November 17, 2021 our Board of Directors authorized a Share Repurchase Program for up to $275.0 million of our outstanding common stock for purchases through December 31, 2022. On February 14, 2022, our Board of Directors authorized an increase of $50.0 million to the Share Repurchase Program. On August 11, 2022, our Board of Directors authorized an additional increase of $50.0 million to the Share Repurchase Program bringing the authorized share repurchases to $375.0 million of our outstanding common stock through December 31, 2022. Under the Share Repurchase Program, we repurchased 2,864,394 shares of our common stock in the open market for an aggregate purchase price of $375.0 million through December 31, 2022. There is no remaining authority under the Share Repurchase Program as of December 31, 2022. On November 17, 2022, our Board of Directors authorized a new $375.0 million share repurchase program to occur from January 1, 2023 through December 31, 2023.