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Common Stock
6 Months Ended
Jun. 30, 2015
Common Stock [Abstract]  
Common Stock

Note 15 – Common Stock

Common Stock Issuance

During the six months ended June 30, 2015 and 2014, we issued 160,643 and 125,209, respectively, of Class A Nonvoting common stock to an executive employee associated with his prior years’ stock grants. 

During the quarter ended June 30, 2015, we issued 85,100 shares of Class B Voting common stock to two beneficial owners of the Company who exercised their Class B common stock options.

Common Stock Buyback

On May 16, 2014, the Company's board of directors authorized management, at its discretion, to spend up to an aggregate of $10.0 million to acquire shares of Reading’s Common Stock. This approved stock repurchase plan supersedes and effectively cancels the program that was approved by the board on May 14, 2004, which allowed management to purchase up to 350,000 shares of Reading’s Common Stock.

The repurchase program allows Reading to repurchase its shares in accordance with the requirements of the SEC on the open market, in block trades and in privately negotiated transactions, depending on market conditions and other factors.  All purchases are subject to the availability of shares at prices that are acceptable to Reading, and accordingly, no assurances can be given as to the timing or number of shares that may ultimately be acquired pursuant to this authorization.

Under this approved buyback program, the Company has repurchased $7.0 million worth of common stock.  This leaves $3.0 million available for repurchase as of June 30, 2015.