Treasury Stock

From time to time, our Board of Directors authorizes management to repurchase shares of our issued and outstanding common stock on the open market. On October 30, 2018, our Board approved an adjustment to the amount of common stock that we could purchase under our existing repurchase plan to an amount not to exceed $5.0 million of our common stock ("2018 Plan"). As of December 31, 2019, we had $3.9 million of authorized repurchases remaining under the 2018 Plan. On March 10, 2020, our Board of Directors replaced the 2018 Plan with a new repurchase plan authorizing the repurchase of up to 300,000 shares. We may utilize various methods to effect the repurchases, which may include open market repurchases, negotiated block transactions, accelerated share repurchases or open market solicitations for shares, some of which may be effected through Rule 10b5-1 plans. The timing and amount of future repurchases, if any, will depend upon several factors, including market and business conditions, and such repurchases may be discontinued at any time.

Repurchased shares of our common stock were as follows:



	Year Ended December 31,
(In thousands)	2019		2018		2017
Shares repurchased	58		413		680
Cost of shares repurchased	$	1,928	$	13,824	$	39,085

Repurchased shares are recorded as shares held in treasury at cost. We hold these shares for future use as management and the Board of Directors deem appropriate.