Stockholders' Equity

9 Months Ended

Sep. 30, 2020

Stockholders' Equity.

Stockholders' Equity

Note 16—Stockholders’ Equity

In June 2020, the Company’s board of directors approved an increase to the Company’s common stock repurchase program from $50 million to $500 million. The Company entered into a privately negotiated transaction with The BlackRock Foundation under the revised stock repurchase program to repurchase 6,975,323 shares of the Company’s common stock at a price of $34 per share.

Following is a summary of activity under the stock repurchase program:

	Quarter ended September 30,				Nine months ended September 30,				Cumulative
	2020		2019		2020		2019		total (1)
	(in thousands)
Shares of common stock repurchased		118		—		7,331		51		8,147
Cost of shares of common stock repurchased	$	6,927	$	—	$	248,210	$	1,056	$	263,158

(1) Amounts represent the total shares of common stock repurchased under the stock repurchase program through September 30, 2020.