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STOCKHOLDERS’ EQUITY
6 Months Ended
Jun. 30, 2019
Equity [Abstract]  
STOCKHOLDERS’ EQUITY STOCKHOLDERS’ EQUITY
Capital Stock

As of October 26, 2018, as a result of a holding company reorganization and related transactions (collectively, the “Reorganization”), each share of the Company’s former Class B common stock, par value $0.00001 per share (the “Class B common stock”), and paired partnership units of TMM Holdings II Limited Partnership were exchanged on a one-for-one basis for shares of Class A common stock, par value $0.00001 per share (“Class A common stock”). Following this exchange, all of the shares of Class B common stock were canceled, and the Company had only one class of common stock outstanding. On May 29, 2019, the Company’s stockholders approved the amendment and restatement of the Company’s certificate of incorporation to (i) delete provisions no longer applicable following the cancellation of all outstanding shares of the former Class B common stock; and (ii) to rename the Company’s Class A common stock as “Common Stock, par value $0.00001 per share.” Following this amendment and restatement, under the Company’s certificate of incorporation, its authorized capital stock consists of 400,000,000 shares of common stock, par value $0.00001 per share (the “Common Stock”), and 50,000,000 shares of preferred stock, par value $0.00001 per share.

References to “Common Stock” refer to “Class A Common Stock” for dates prior to June 30, 2019.

Stock Repurchase Program

The Company's stock repurchase program allows for repurchases of the Company's Common Stock in open market purchases, privately negotiated transactions or other transactions. The stock repurchase program is subject to prevailing market conditions and other considerations, including our liquidity, the terms of our debt instruments, statutory requirements, planned land investment and development spending, acquisition and other investment opportunities and ongoing capital requirements.

The following table summarizes share repurchase activity for the program for the periods presented:
 
Three Months Ended June 30
 
Six Months Ended June 30
(Dollars in thousands)
2019
 
2018
 
2019
 
2018
Amount available for repurchase — beginning of period
79,598

 
95,902

 
$
57,437

 
$
95,902

Additional amount authorized for repurchase

 

 
100,000

 
100,000

Amount repurchased
(79,598
)
 

 
(157,437
)
 
(100,000
)
Amount available for repurchase — end of period
$

 
$
95,902

 
$

 
$
95,902

 
 
 
 
 
 
 
 


During the three and six months ended June 30, 2019, we repurchased 4,012,469 and 8,389,348 shares of Common Stock under the Company's stock repurchase program, respectively. During the six months ended June 30, 2018, we repurchased 7,588,771 shares of Common Stock from our former principal equityholders which is not reflected in the table above.