SHAREHOLDERS' EQUITY

3 Months Ended

Mar. 31, 2022

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY

10. SHAREHOLDERS’ EQUITY

Share Repurchase Authorization

In February 2015, the Company’s Board of Directors authorized the repurchase of up to 20,000,000 shares of its common stock, including shares to be repurchased under Rule 10b5–1. As of March 31, 2022, 4,387,187 shares remained to be repurchased under the Company’s repurchase authorization. The Company intends to repurchase all shares under its authorization, for which no expiration date has been established, in open market or privately negotiated transactions, subject to market conditions.

Share Repurchases

During the first quarter of 2022, the Company reacquired 1,546,749 shares of its common stock, of which 1,463,000 related to share repurchases through open market and 83,749 related to shares withheld for taxes on the exercise of stock options and the vesting of stock awards and units.

During the first quarter of 2021, the Company reacquired 292,586 shares of its common stock, of which 190,623 related to share repurchases through open market and 101,963 related to shares withheld for taxes on the exercise of stock options and the vesting of stock awards and units.