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Note 11 - Stock Repurchase Plan
9 Months Ended
Sep. 30, 2020
Notes to Financial Statements  
Stock Repurchase Plan [Text Block]
(
11
)
 
STOCK REPURCHASE PLAN
 
On
July 31, 2019,
our Board of Directors authorized the repurchase of up to
$3,000
of our common stock from time to time on the open market, in compliance with Rule
10b
-
18
under the Securities Exchange Act of
1934,
as amended (the “Exchange Act”), or in privately negotiated transactions pursuant to a newly authorized stock repurchase plan (the
“2019
Repurchase Plan”). Repurchases
may
be made under a Rule
10b5
-
1
plan entered into with RW Baird & Co., which would permit shares to be repurchased when we might otherwise be precluded from doing so under insider trading laws and our internal trading windows. The
2019
Repurchase Plan does
not
obligate us to purchase any particular amount of common stock and
may
be suspended or discontinued at any time without prior notice. The
2019
Repurchase Plan is funded using our operating cash flow or available cash. Purchases began on
September 18, 2019
under this plan. During the quarter ended
March 31, 2020,
we repurchased
13,767
shares under the
2019
Repurchase Plan at a cost of
$74,
including fees paid to our broker. On
March 2, 2020,
we suspended repurchases under the
2019
Repurchase Plan. For the term of the
2019
Repurchase Plan through
September 30, 2020,
we have repurchased a total of
243,075
shares at a cost of
$1,216,
which includes fees paid to our broker of
$6.
All of the repurchased shares were retired.