Capital Stock

6 Months Ended

Jun. 30, 2020

(15) CAPITAL STOCK

We have authorized capital stock of 485.0 million shares which includes 475.0 million shares of common stock and 10.0 million shares of preferred stock. We currently have no preferred stock issued or outstanding. The following is a schedule of changes in the number of common shares outstanding since the beginning of 2019:

	Six Months Ended June 30, 2020			Year Ended December 31, 2019
Beginning balance		249,630,803			249,510,022
Restricted stock grants		3,390,358			1,186,290
Restricted stock units vested		952,719			720,212
Performance stock units issued		279,420			12,747
Performance stock dividends		18,700			—
Treasury shares acquired		(8,199,194	)		(1,798,468	)
Ending balance		246,072,806			249,630,803

Stock Repurchase Program

In October 2019, our board of directors authorized a $100.0 million common stock repurchase program. Under this program, we may repurchase shares in open market transactions, from time to time, in accordance with applicable SEC rules and federal securities laws. The stock repurchase program has no time limit, may be modified or suspended based on our financial condition or changes in market conditions or terminated at any time by our board of directors. The following is a schedule of the change in treasury shares for the three and six months ended June 30, 2020:

	Three Months Ended June 30, 2020		Six Months Ended June 30, 2020
Beginning balance		9,807,327		1,808,133
Rabbi trust shares distributed/sold		—		(806	)
Shares repurchased		200,000		8,200,000
Ending balance		10,007,327		10,007,327