STOCKHOLDERS' EQUITY

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

STOCKHOLDERS' EQUITY

STOCKHOLDERS’ EQUITY

Common Stock

The following table shows the beginning and ending balances of our issued and outstanding common stock for the three and six months ended June 30, 2023 and 2022:

	Three Months Ended June 30,		Six Months Ended June 30,
	2023	2022	2023	2022
Shares issued and outstanding, beginning balance	59,522,954	62,258,896	60,555,661	65,968,224
Issuance of common stock from vested restricted stock units	167,852	170,358	302,926	296,880
Issuance of common stock from exercise of stock options	41,876	43,700	81,667	72,389
Issuance of common stock for employee stock purchase plan	104,017	73,808	104,017	73,808
Issuance of common stock for the acquisition of Zenefits	—	—	—	193,221
Repurchase of common stock	(108,018)	(408,478)	(1,265,889)	(4,419,423)
Awards effectively repurchased for required employee withholding taxes	(53,721)	(50,981)	(103,422)	(97,796)
Shares issued and outstanding, ending balance	59,674,960	62,087,303	59,674,960	62,087,303

Stock Repurchases

In February 2020, our board of directors authorized a $300 million incremental increase to our ongoing stock repurchase program. In February 2022 and November 2022, our board of directors authorized a further $300 million and $200 million, respectively, incremental increase to this stock repurchase program. In February 2023 and July 2023, our board of directors authorized a further $300 million and $1 billion, respectively, incremental increase to this stock repurchase program. This repurchase authorization has no expiration.