Common Stock and Treasury Stock

3 Months Ended

Mar. 31, 2019

Stockholders' Equity Note [Abstract]

5. Common Stock and Treasury Stock

The following summarizes information relating to the number of shares of our common stock issued in connection with stock transactions through March 31, 2019:

	Common Stock Issued
	Class A			Class B
	(Shares in thousands)
Balance, January 1, 2018		6,694			898
Conversion of shares		12			(12	)
Issuance of restricted stock		27			37
Forfeiture of restricted stock		(1	)		—
Balance, December 31, 2018		6,732			923
Balance, March 31, 2019		6,732			923

We have a Stock Buy-Back Program to allow us to purchase up to $

75.8

million of our Class A Common Stock. As of March 31, 2019, we have remaining authorization of $

20.3

million for future repurchases of our Class A Common Stock. On September 14, 2017, the Board of Directors authorized the repurchase of our Class A Common Stock under the trading plan we adopted pursuant to Securities and Exchange Commission Rule 10b5-1.

The Rule 10b5-1 repurchase plan allows us to repurchase our shares during periods when we would normally not be active in the market due to our internal trading blackout periods.

Under the plan, we may repurchase our Class A Common Stock in any combination of open market, block transactions and privately negotiated transactions subject to market conditions, legal requirements including applicable SEC regulations (which include certain price, market, volume and timing constraints), specific repurchase instructions and other corporate considerations. Purchases under the plan are funded by cash on the Company's balance sheet. The plan does not obligate us to acquire any particular amount of Class A Common Stock. The authorization was effective until September 1, 2018. During the three months ended March 31, 2019 and 2018, approximately

2,500

shares were repurchased for $

80,000

and

2,500

shares were repurchased for $

93,000

, respectively, related to the stock buy-back program.