Stockholders' Equity

9 Months Ended

Sep. 30, 2024

Stockholders' Equity Note [Abstract]

Stockholders' Equity

(11) Stockholders’ Equity

The following table shows changes in our outstanding common stock:

	Nine months ended September 30,
	2024			2023
	(In thousands)
Common stock, beginning of period	$	34,996		$	36,824
Shares of common stock issued upon exercise of stock options		-			60
Shares of common stock issued when sales restrictions on restricted stock units    (“RSUs”) lapsed and performance-based stock units (“PSUs”) were earned		152			189
Common stock retired		(1,640	)		(1,731	)
Common stock, end of period	$	33,508		$	35,342

The above table 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 September 30, 2024, we had a total of 216,617 RSUs and 58,619 PSUs outstanding. The PSU outstanding balance is based on the number of PSUs granted pursuant to the award agreements; however, the actual number of common shares earned could be higher or lower based on actual versus targeted performance. See Note 13 (Share-Based Transactions) for discussion of the PSU award structure.

On November 16, 2023, our Board authorized a share repurchase program for up to $425.0 million of our outstanding common stock for purchases from November 16, 2023 through December 31, 2024 (the “Share Repurchase Program”). Under the Share Repurchase Program, we repurchased 1,606,227 shares of our common stock in the open market for an aggregate purchase price of $380.6 million through September 30, 2024. Approximately $44.4 million remains available for repurchases of our outstanding common stock under the Share Repurchase Program as of September 30, 2024.