SHAREHOLDERS' EQUITY

6 Months Ended

Jun. 30, 2023

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY

10. SHAREHOLDERS’ EQUITY

Share Repurchase Authorization

In February 2015 and November 2022, the Company’s Board of Directors authorized the repurchase of up to 20,000,000 and 10,000,000, respectively, additional shares of its common stock, including shares to be repurchased under Rule 10b5–1. As of June 30, 2023, 12,917,097 shares remained to be repurchased under the Company’s repurchase authorization. The Company intends to repurchase all shares under its authorization, for which no expiration date has been established, in open market or privately negotiated transactions, subject to market conditions.

Share Repurchases

During the first six months of 2023, the Company reacquired 68,712 shares of its common stock related to shares withheld for taxes on the exercise of stock options and the vesting of stock awards and units.

During the first six months of 2022, the Company reacquired 2,284,094 shares of its common stock, of which 2,186,990 related to share repurchases through open market and 97,104 related to shares withheld for taxes on the exercise of stock options and the vesting of stock awards and units.