Common Stock

6 Months Ended

Jun. 30, 2018

Equity [Abstract]

Common Stock

18. Common Stock

Changes in the number of common stock shares outstanding are as follows:

	Six Months Ended June 30,
	2018		2017
Shares outstanding, beginning of period		22,337,644		—
Initial public offering		—		23,000,000
Shares repurchased related to employee stock ownership plan		—		(240,000	)
Treasury shares repurchased through stock repurchase authorization		—		(446,671	)
Issuance of treasury shares for vesting of restricted stock units		22,200		—
Shares outstanding, end of period		22,359,844		22,313,329

Note: Shares were not available prior to the Company’s initial public offering in March 2017.  

On May 23, 2017, our Board of Directors approved an authorization for the repurchase of up to $8 million of the Company’s outstanding common stock. We completed the repurchase of 446,671 shares of our common stock for $8,037 during the three months ended June 30, 2017, and reflected the cost of this treasury stock as a reduction of Equity within our Consolidated Balance Sheet as of December 31, 2017.

On February 28, 2018, our Board of Directors approved an authorization for the repurchase of up to approximately $10 million of the Company’s outstanding common stock. No shares of our common stock have been repurchased under this authorization.