Share Repurchases

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

Share Repurchases

SHARE REPURCHASES

On May 24, 2022, the Company announced that the Board of Directors approved a new share repurchase program ("SRP") authorizing the Company to repurchase up to $50.0 million of its common stock. Pursuant to this authorization, the Company may repurchase shares of its common stock on a discretionary basis from time to time through open market purchases. The repurchase program has no expiration date and may be modified, suspended, or terminated at any time. As of June 30, 2022, there was $47.0 million of the remaining authorization for future common stock repurchases under the SRP.

Table 13: Shares Repurchase Activity
	For the Three Months Ended				For the Six Months Ended
	June 30, 2022		June 30, 2021		June 30, 2022		June 30, 2021
	(in thousands, except per share and share data)
Amount paid for shares repurchased (1)	$	3,002	$	—	$	3,002	$	—
Number of shares repurchased	360,439		—		360,439		—
Average per share price paid (1)	$	8.33	$	—	$	8.33	$	—

(1)Includes commissions paid for repurchases on the open market.

As of August 5, 2022, the Company repurchased an additional 142,536 shares of its common stock, for $1.1 million since June 30, 2022.