Shareholders' Equity

6 Months Ended

Jun. 30, 2021

Stockholders Equity Note [Abstract]

Shareholders' Equity

9. Shareholders’ Equity

On December 5, 2018, the Company's Board of Directors authorized a stock repurchase program, under which the Company may repurchase up to one million shares of the Company's common stock. The Company did not repurchase any shares of stock for the three and six months ended June 30, 2021 related to the stock repurchase program.  For the three and six months ended June 30, 2020, the Company repurchased 1,698 and 2,398 shares of stock valued at $6,000 and $8,000, respectively, related to the stock repurchase program.

For the three months ended June 30, 2021, and 2020, the Company repurchased 2,307 and 2,308 shares of stock valued at approximately $7,000 and $8,000, respectively, related to the vesting of the Company’s restricted stock units.  The Company made no repurchases of stock relating to the vesting of restricted stock units during the first quarters of 2021 and 2020.  Upon the repurchase of the Company’s shares, the shares remain authorized, but not issued or outstanding.

As of June 30, 2021 and December 31, 2020, the Company had 9,689,421 and 9,681,728 issued and outstanding shares of common stock, respectively.  Holders of common stock are entitled to one vote per share and to receive dividends only when and if declared by the board of directors.  The holders have no preemptive, conversion or subscription rights.