Quarterly report pursuant to Section 13 or 15(d)

Share Repurchase Program

v3.5.0.2
Share Repurchase Program
9 Months Ended
Sep. 30, 2016
Share Repurchase Program  
Share Repurchase Program

12.  SHARE REPURCHASE PROGRAM

 

On March 1, 2016, our Board of Directors authorized a share repurchase program (the “Share Repurchase Program”), pursuant to which we may purchase up to $50 million of our common stock.  Share repurchases may be executed through various means including, without limitation, open market purchases, privately negotiated transactions, or otherwise, including pursuant to a Rule 10b5-1 plan.  The Share Repurchase Program does not obligate us to purchase any shares and expires February 28, 2017.  In its discretion, the Board of Directors may terminate, modify, or amend the Share Repurchase Program at any time.

 

The following table sets forth our share repurchases under the Share Repurchase Program:

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

September 30, 

 

September 30, 

 

 

2016

 

2016

Number of shares purchased

 

 

188,068

 

 

341,500

Share repurchase cost (in thousands)

    

$

6,415

    

$

11,377

Average price per share

 

$

34.11

 

$

33.32