Common Stock

9 Months Ended

Sep. 30, 2019

Equity [Abstract]

Common Stock

Common Stock

The Company’s Certificate of Incorporation, as amended on November 9, 2009, authorizes the Company to issue up to 80 million shares of common stock, par value $0.0001 per share, and 100,000 shares of one or more series of preferred stock, par value $0.0001 per share.

A reconciliation of changes in common shares issued during the nine months ended September 30, 2019 is as follows:

Shares issued at December 31, 2018	62,162,875
Issued as restricted stock award grants	875,522
Shares issued at September 30, 2019	63,038,397

Stock Repurchase Program

In June 2015, the Company’s Board of Directors authorized the repurchase of up to $50 million of the Company’s common stock. Repurchases may be made in the open market or through privately negotiated transactions. Through December 31, 2018, the Company had repurchased $0.3 million of its common stock under this authorization. During the three and nine months ended September 30, 2019 and 2018, the Company did not repurchase any shares of its outstanding common stock under this authorization.

At September 30, 2019, the Company has $49.7 million remaining under its share repurchase program.