Common Stock

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

Common Stock

16.Common Stock

Changes in the number of common stock shares outstanding are as follows:

	Six Months Ended June 30,
	2022			2021
Shares outstanding, beginning of period		21,219,808			21,318,638
Treasury shares repurchased through stock repurchase authorization		(111,244	)		(118,531	)
Issuance of treasury shares for vesting of restricted stock units		101,292			102,060
Shares outstanding, end of period		21,209,856			21,302,167

The changes in the number of common shares outstanding excludes certain non-forfeitable stock award shares that are included in the weighted average common shares outstanding used in basic earnings per common share calculations. In addition, the net loss per diluted common share for the three- and six-month periods ended June 30, 2022, excluded the weighted average effects of 176,037 and 207,424 shares of stock awards, respectively, since the impacts of these potential shares of common stock were anti-dilutive.

On May 4, 2020, our Board of Directors approved an authorization for the repurchase of up to approximately $10,000 of the Company’s outstanding common stock. During the year ended December 31, 2020, we completed the repurchase of 454,443 shares of our common stock for $7,238 under this authorization. During the nine months ended September 30, 2021, we completed the repurchase of 144,110 shares of our common stock for $2,762 to close out this authorization.

On August 11, 2021, our Board of Directors approved an authorization for the repurchase of up to approximately $5,000 of the Company’s outstanding common stock. During the year ended December 31, 2021, we completed the repurchase of 81,095 shares of our common stock for $1,554 under this authorization. During the three months ended June 30, 2022, we completed the repurchase of 56,372 shares of our common stock for $935. During the six months ended June 30, 2022, we completed the repurchase of 111,244 shares of our common stock for $1,932.

On May 9, 2022, our Board of Directors approved an authorization for the repurchase of up to approximately $10,000 of the Company’s outstanding common stock in addition to the $1,514 remaining from the August 11, 2021, repurchase authorization as of June 30, 2022. No shares were repurchased as part of the May 9, 2022, authorization during the six months ended June 30, 2022.

The cost of this treasury stock is a reduction of shareholders’ equity within our Unaudited Consolidated Balance Sheets.