SHAREHOLDERS' EQUITY

9 Months Ended

Sep. 30, 2023

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY

10. SHAREHOLDERS’ EQUITY

Share Repurchase Authorization

In February 2015 and November 2022, the Company’s Board of Directors authorized the repurchase of up to 20,000,000 and 10,000,000, respectively, additional shares of its common stock, including shares to be repurchased under Rule 10b5–1. As of September 30, 2023, 12,917,097 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 nine months of 2023, the Company reacquired 72,900 shares of its common stock related to shares withheld for taxes on the exercise of stock options and the vesting of stock awards and units.

During the first nine months of 2022, the Company reacquired 2,545,822 shares of its common stock, of which 2,445,890 related to share repurchases through open market and 99,932 related to shares withheld for taxes on the exercise of stock options and the vesting of stock awards and units.