Common Stock

12 Months Ended

Dec. 31, 2015

Stockholders' Equity Note [Abstract]

Common Stock [Text Block]

5. COMMON STOCK

Common Stock

As of December 31, 2015 and 2014, we had 100 million shares of common stock authorized. As of December 31, 2015, we had reserved 78,857 shares for issuance of common stock under the Employee Stock Purchase Plan (ESPP) and 297,879 shares under our Dividend Reinvestment and Direct Stock Purchase Plan (DRPP). At the Company's election, shares sold through our DRPP may be purchased in the open market or through original issuance of shares reserved for issuance under the DRPP. In July 2015 we moved DRPP to open market purchases.

The Restated Stock Option Plan (SOP) was terminated with respect to new grants in 2012; however, options granted before the Restated SOP was terminated will remain outstanding until the earlier of their expiration, forfeiture, or exercise. There were 352,688 options outstanding at December 31, 2015, which were granted prior to termination of the plan.

Stock Repurchase Program

We have a share repurchase program under which we may purchase our common shares on the open market or through privately negotiated transactions. We currently have Board authorization through May 2016 to repurchase up to an aggregate of the greater of 2.8 million shares or $100 million. No shares of common stock were repurchased pursuant to this program during the year ended December 31, 2015. Since the plan’s inception in 2000, a total of 2.1 million shares have been repurchased at a total cost of $83.3 million.

Summary of Changes in Common Stock

The following table shows the changes in the number of shares of our common stock issued and outstanding:

In thousands	Shares
Balance, December 31, 2012	26,917
Sales to employees under ESPP	16
Stock-based compensation	42
Sales to shareholders under DRPP	100
Balance, December 31, 2013	27,075
Sales to employees under ESPP	24
Stock-based compensation	83
Sales to shareholders under DRPP	102
Balance, December 31, 2014	27,284
Sales to employees under ESPP	19
Stock-based compensation	78
Sales to shareholders under DRPP	46
Balance, December 31, 2015	27,427