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Stock Repurchase Plan
3 Months Ended
Mar. 31, 2013
Repurchases Of Common Stock [Abstract]  
Stock Repurchase Plan

6. Stock Repurchase Plan

 

In April 2012, the Company’s Board of Directors approved a stock repurchase program (the “2012 Stock Repurchase Program”) which authorized the Company to repurchase up to 1.0 million shares of its common stock. The Company did not repurchase any stock during the quarter ended March 31, 2013 under the 2012 Stock Repurchase Program. As of March 31, 2013, there were 690,333 shares remaining and authorized for repurchase under the 2012 Stock Repurchase Program.

 

During the first quarter ended March 31, 2013, the Company purchased 21,224 shares of common stock valued at $0.3 million, through withholding, pursuant to provisions in agreements with recipients of restricted stock granted under the Company’s equity compensation plans, which allow the Company to withhold the number of shares having fair value equal to each recipient’s tax withholding due.