Stockholders' Equity

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

Stockholders' Equity

6. Stockholders’ Equity

Preferred Stock

The Company is authorized to issue 5,000,000 shares of preferred stock with a $0.0001 par value per share as of June 30, 2024 and December 31, 2023. There were no shares of preferred stock issued and outstanding as of June 30, 2024 and December 31, 2023.

Common Stock

The Company is authorized to issue 75,000,000 shares of common stock with $0.0001 par value per share as of June 30, 2024 and December 31, 2023. As of June 30, 2024, the shares of common stock issued and outstanding totaled 18,507,490. As of December 31, 2023, the shares of common stock issued and outstanding were 18,395,682.

The Company has reserved the following number of shares of common stock for future issuances:

	June 30, 2024
Outstanding stock awards		980,469
Shares available for future issuance under the 2017 Stock Incentive Plan		7,016,775
Total common stock reserved for future issuances		7,997,244

Dividend

On December 15, 2023, the Company announced a cash dividend of an aggregate of $0.50 per share for fiscal year 2024, payable in two equal installments of $0.25 per share. The first installment of the dividend was paid during the first fiscal quarter of 2024 in the aggregate amount of $4.6 million to stockholders of record as of the close of business on January 31, 2024. On May 31, 2024, the Company announced that the second installment payment of its cash dividend of $0.25 on shares of its common stock (including common stock underlying its Japanese Depositary Shares ("JDS")), which was paid to stockholders of record as of June 28, 2024 on July 18, 2024. The aggregate amount of the two dividend payments was $9.2 million.

On December 16, 2022, the Company announced a cash dividend of an aggregate of $0.50 per share for fiscal year 2023, payable in two equal installments of $0.25 per share. The first installment of the dividend was paid during the first fiscal quarter of

2023 in the aggregate amount of $4.6 million to stockholders of record as of the close of business on January 31, 2023. On June 2, 2023, the Company announced that the second installment payment of its cash dividend of $0.25 on shares of its common stock (including common stock underlying its JDS), which was paid to stockholders of record as of June 30, 2023 on July 18, 2023. The aggregate amount of the two dividend payments was $9.1 million.