EQUITY TRANSACTIONS (Notes)

9 Months Ended

Sep. 30, 2020

Equity, Class of Treasury Stock [Line Items]

Stockholders' Equity Note Disclosure [Text Block]

EQUITY TRANSACTIONS

Stock Repurchase Plans—The Company's Board of Directors ("Board") approved a stock repurchase program that permits the Company to repurchase its common stock. Management has discretion in determining the conditions under which shares may be purchased from time to time. The following table summarizes the Stock Repurchase Plans approved by the Board:

	May 2018 to May 2019	May 2019 to May 2020	May 2020 to May 2021
Approval Date	May 2018	April 2019	May 2020
Authorized Repurchase Amount of Common Stock	$7 million	$7 million	$5 million

As of September 30, 2020 the value of shares that may yet be purchased under the current plan was $3.6 million.

Purchases of the Company's common stock pursuant to the Stock Repurchase Plans were as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Shares repurchased[1]	349,273		367,155		2,351,940		617,300
Average purchase price per share[2]	$	2.45	$	3.46	$	2.52	$	2.86
Dollar value of shares repurchased (in thousands)	$	854	$	1,271	$	5,930	$	1,762

[1] No shares of our common stock were purchased other than through a publicly announced plan or program.

[2] Average price paid per share includes costs associated with the repurchases.

There were 7,811 unsettled share repurchases as of September 30, 2020 and no unsettled share repurchases as of September 30, 2019.

The Company's Board approved the retirement of 20 million shares of treasury stock during the three months ended March 31, 2019 and, as a result, the Company reduced additional paid in capital by $161.6 million and Common Stock by $0.2 million during the three months ended March 31, 2019. The value of treasury stock retired was computed based on the average repurchase price of all treasury shares as of March 31, 2019, which was $8.09 per share.