Share Repurchases

12 Months Ended

Dec. 31, 2018

Share Repurchases

Share Repurchases

(8) Share Repurchases

In December 2015, the Company commenced a publicly announced share repurchase program to repurchase up to $10,000 of its common stock.  During December 2015, the Company repurchased 3,086 shares at a weighted-average price of $54.79 per share.  Pursuant to the share repurchase program, in 2016 the Company repurchased 50,068 shares at a weighted-average price of $53.52 per share.  On November 19, 2018, the Company extended the repurchase program through November 30, 2019.  No shares were repurchased under the program in 2018 or 2017.

In addition, during 2018, pursuant to provisions in the 2001 Plan that allow employees and directors to pay the tax withholding liability upon the lapse of restrictions on restricted stock in either cash and/or delivery of shares of the Company’s common stock, the Company repurchased 5,385 shares at a weighted-average price of $76.32 per share.