Stockholders' Equity	9 Months Ended
Sep. 30, 2022
Stockholders' Equity
Stockholders' Equity	15. Stockholders’ Equity Dividends During the three months ended September 30, 2022 and 2021, the Company paid cash dividends of $0.10 and $0.08, respectively, per share on the Company’s common stock for a total of $5.9 million and $4.7 million, respectively. During the nine months ended September 30, 2022 and 2021, the Company paid cash dividends of $0.30 and $0.24, respectively, per share on the Company’s common stock for a total of $17.7 million and $14.1 million, respectively. Stock Repurchase Program The Company’s Board approved a stock repurchase program (the “Stock Repurchase Program”) pursuant to which the Company is authorized to repurchase shares of its common stock. The program has no expiration date. During the three months ended September 30, 2022, the Company repurchased 572,203 shares of its common stock outstanding at an average purchase price of $34.78, per share for an aggregate purchase price of $19.8 million. During the nine months ended September 30, 2022, the Company repurchased 576,963 shares of its common stock outstanding at an average purchase price of $34.81, per share for an aggregate purchase price of $20.0 million. During the three and nine months ended September 30, 2021, the Company did not repurchase shares of its common stock outstanding. As of September 30, 2022, the Company had a total authority of $80.0 million available for purchase of shares of its common stock. The Company may repurchase its common stock in open market purchases from time to time, in privately negotiated transactions or otherwise, pursuant to Rule 10b-18 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The timing and amount of any additional shares to be repurchased will depend upon a variety of factors. Repurchases may be commenced or suspended at any time or from time to time without prior notice. The Stock Repurchase Program will continue until otherwise modified or terminated by the Company’s Board at any time in its sole discretion. Issuance of Common Stock for Employee Compensation On February 22, 2022, the Company granted 25,594 restricted stock awards to certain employees pursuant to the 2015 Performance and Equity Incentive Plan (the “2015 Plan”). The restricted shares will vest in equal annual installments on the first, second and third annual anniversary of the grant date, subject to the recipient’s continued employment through and on the applicable vesting date. The weighted average grant date fair value of the restricted shares during the nine months ended September 30, 2022 was $46.73. On April 8, 2022, the Company granted 4,361 restricted stock awards to an employee pursuant to the 2015 Plan. The restricted shares will vest in January 2030, subject to the recipient’s continued employment through and on the applicable vesting date. The weighted average grant date fair value of the restricted shares during the nine months ended September 30, 2022 was $55.73. Stock based compensation cost is measured at the grant date based on the fair value of the award and is typically recognized as expense on a straight-line basis over the requisite service period, which is the vesting period. Forfeitures are accounted for as they occur. During the three and nine months ended September 30, 2022, the Company recorded expense of $0.1 million and $0.3 million, respectively, related to restricted stock awards. During the three and nine months ended September 30, 2021, the Company did not have expense related to restricted stock awards. During the three and nine months ended September 30, 2022 and 2021, there were no restricted shares vested or forfeited. As of September 30, 2022, there was $1.2 million of unrecognized compensation cost, related to non-vested restricted shares which will be recognized over a weighted average period of 3.4 years.

Stockholders' Equity

9 Months Ended

Sep. 30, 2022

15. Stockholders’ Equity

Dividends

During the three months ended September 30, 2022 and 2021, the Company paid cash dividends of $0.10 and $0.08, respectively, per share on the Company’s common stock for a total of $5.9 million and $4.7 million, respectively. During the nine months ended September 30, 2022 and 2021, the Company paid cash dividends of $0.30 and $0.24, respectively, per share on the Company’s common stock for a total of $17.7 million and $14.1 million, respectively.

Stock Repurchase Program

The Company’s Board approved a stock repurchase program (the “Stock Repurchase Program”) pursuant to which the Company is authorized to repurchase shares of its common stock. The program has no expiration date.

During the three months ended September 30, 2022, the Company repurchased 572,203 shares of its common stock outstanding at an average purchase price of $34.78, per share for an aggregate purchase price of $19.8 million. During the nine months ended September 30, 2022, the Company repurchased 576,963 shares of its common stock outstanding at an average purchase price of $34.81, per share for an aggregate purchase price of $20.0 million. During the three and nine months ended September 30, 2021, the Company did not repurchase shares of its common stock outstanding. As of September 30, 2022, the Company had a total authority of $80.0 million available for purchase of shares of its common stock. The Company may repurchase its common stock in open market purchases from time to time, in privately negotiated transactions or otherwise, pursuant to Rule 10b-18 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The timing and amount of any additional shares to be repurchased will depend upon a variety of factors. Repurchases may be commenced or suspended at any time or from time to time without prior notice. The Stock Repurchase Program will continue until otherwise modified or terminated by the Company’s Board at any time in its sole discretion.

Issuance of Common Stock for Employee Compensation

On February 22, 2022, the Company granted 25,594 restricted stock awards to certain employees pursuant to the 2015 Performance and Equity Incentive Plan (the “2015 Plan”). The restricted shares will vest in equal annual installments on the first, second and third annual anniversary of the grant date, subject to the recipient’s continued

employment through and on the applicable vesting date. The weighted average grant date fair value of the restricted shares during the nine months ended September 30, 2022 was $46.73.

On April 8, 2022, the Company granted 4,361 restricted stock awards to an employee pursuant to the 2015 Plan. The restricted shares will vest in January 2030, subject to the recipient’s continued employment through and on the applicable vesting date. The weighted average grant date fair value of the restricted shares during the nine months ended September 30, 2022 was $55.73.

Stock based compensation cost is measured at the grant date based on the fair value of the award and is typically recognized as expense on a straight-line basis over the requisite service period, which is the vesting period. Forfeitures are accounted for as they occur. During the three and nine months ended September 30, 2022, the Company recorded expense of $0.1 million and $0.3 million, respectively, related to restricted stock awards. During the three and nine months ended September 30, 2021, the Company did not have expense related to restricted stock awards. During the three and nine months ended September 30, 2022 and 2021, there were no restricted shares vested or forfeited.

As of September 30, 2022, there was $1.2 million of unrecognized compensation cost, related to non-vested restricted shares which will be recognized over a weighted average period of 3.4 years.