Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2019

The following table details our cash dividends declared in 2019. Cash dividends paid as disclosed in the Condensed Consolidated Statement of Cash Flows for the three months ended March 31, 2019 and 2018 include previously declared cash dividends on shares of vested restricted common stock ("restricted stock") issued to our non-executive directors and dividends related to vested restricted stock units ("RSUs") issued to eligible employees. Cash dividends on RSUs and restricted stock have been accrued and are paid when the applicable vesting conditions are met. Accrued cash dividends on forfeited restricted stock and RSUs are also forfeited.

Declaration Date

Record Date

Payment Date

Per Share Amount

Total Declared⁽¹⁾

(Dollars in thousands)

February 27, 2019

March 15, 2019

March 29, 2019

0.125

2,479

(1) The total declared reflects the cash dividends declared in relation to common stock and unvested RSUs.

Share Repurchase Plan

The following table presents information with respect to purchases made by the Company during the three months ended March 31, 2019:



Period	Total Number of Shares Purchased	Average Price Paid Per Share⁽¹⁾		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	Approximate Dollar Value of Shares That May Yet Be Purchased Under the Plans or Programs
					(Dollars in thousands)
Balance at January 1, 2019					$	6,555
Three Months Ended March 31, 2019	131,012	$	13.77	131,012	$	4,749

⁽¹⁾ Average price paid per share excludes commissions of approximately $5,240.

Basic and Diluted Net Income Per Common Shares

The components of basic and diluted net income per common share were as follows for the periods stated:



	For the Three Months Ended March 31,
(in thousands, except for share and per share amounts)	2019		2018
Numerator:
Net income	$	742	$	345

Denominator:
Basic weighted average outstanding shares of common stock	19,196,970		20,027,800
Diluted weighted average outstanding shares of common stock	19,356,712		20,153,291
Basic and diluted net income per common share	$	0.04	$	0.02

Activities Under Equity Plan

The following table summarizes the activities under the ESPP from January 1, 2019 through March 31, 2019:



	Activity
Total ESPP equity securities available at January 1, 2019	208,159
ESPP common stock purchased by eligible employees	—
Total ESPP securities available at March 31, 2019	208,159

The following table summarizes the activities under the 2012 Equity Plan from January 1, 2019 through March 31, 2019:



	Activity
Total equity securities available at January 1, 2019	904,437
RSU and restricted stock awarded to eligible employees, net of forfeitures	(240,588	)
Total equity securities available at March 31, 2019	663,849

Summary of Outstanding RSUs

The following table details activities with respect to outstanding RSUs and restricted stock for the three months ended March 31, 2019:



	Shares		Weighted- Average Grant Date Fair Value
Unvested at January 1, 2019	404,325		$	17.27
Granted	333,655		13.26
Vested	(14,057	)	15.65
Forfeited	(101,173	)	15.68
Unvested at March 31, 2019	622,750		$	15.42

Stock Based Compensation Expense

The following table reflects the items for stock-based compensation expense on the Condensed Consolidated Statement of Operations for the periods stated:



	For the Three Months Ended March 31,
(Dollars in thousands)	2019		2018
Performance-based RSUs	$	107	$	504
Time-based RSUs and restricted stock	404		713
ESPP	17		17
Total stock-based compensation	$	528	$	1,234