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Stockholders' Equity
 9 Months Ended
Sep. 30, 2024
Stockholders' Equity Note [Abstract]  
Stockholders' Equity STOCKHOLDERS' EQUITY
The following table summarizes information about shares of the Company's common stock at:
 September 30,December 31,
(In thousands)20242023
Common stock authorized75,000 75,000 
Common stock issued28,803 28,667 
Treasury stock3,341 3,341 
Common stock outstanding25,462 25,326 
The table below summarizes the regular quarterly dividends declared and paid during the periods ended September 30, 2024 and December 31, 2023:
(In thousands, except per share data)Per ShareRecord DatePayment DateTotal Paid
First Quarter 2023$1.05 03/10/2303/24/23$26,563 
Second Quarter 20231.05 06/02/2306/16/2326,591 
Third Quarter 20231.05 09/01/2309/15/2326,590 
Fourth Quarter 20231.05 12/01/2312/15/2326,592 
Total 2023$4.20 $106,336 
First Quarter 2024$1.05 03/08/2403/22/24$26,721 
Second Quarter 20241.05 05/31/2406/14/2426,734 
Third Quarter 20241.05 08/30/2409/13/2426,736 
Total 2024$3.15 $80,191 

Deferred and Restricted Stock Units

The LCI Industries 2018 Omnibus Incentive Plan (the "2018 Plan") provides for the grant or issuance of stock units, including those that have deferral periods, such as deferred stock units ("DSUs"), and those with time-based vesting provisions, such as restricted stock units ("RSUs"), to directors, employees, and other eligible persons. Recipients of DSUs and RSUs are entitled to receive shares at the end of a specified vesting or deferral period. Holders of DSUs and RSUs receive dividend equivalents based on dividends granted to holders of the common stock, which dividend equivalents are payable in additional DSUs and RSUs, and are subject to the same vesting criteria as the original grant. DSUs vest (i) ratably over the service period, (ii) at a specified future date, or (iii) for certain officers, based on achievement of specified performance conditions. RSUs vest (i) ratably over the service period or (ii) at a specified future date. In addition, DSUs are issued in lieu of certain cash compensation. Transactions in DSUs and RSUs under the 2018 Plan are summarized as follows:
Number of SharesWeighted Average Price
Outstanding at December 31, 2023296,305 $118.60 
Issued1,693 114.96 
Granted143,407 125.20 
Dividend equivalents8,625 111.04 
Forfeited(15,084)122.69 
Vested(129,780)115.07 
Outstanding at September 30, 2024305,166 $119.82 

Performance Stock Units

The 2018 Plan provides for performance stock units ("PSUs") that vest at a specific future date based on achievement of specified performance conditions. Transactions in PSUs under the 2018 Plan are summarized as follows:
Number of SharesWeighted Average Price
Outstanding at December 31, 2023207,279 $122.57 
Granted108,096 132.77
Dividend equivalents6,778 111.02
Vested(78,695)143.54
Outstanding at September 30, 2024243,458 $120.26 
Stock Repurchase Program

On May 19, 2022, the Company's Board of Directors authorized a stock repurchase program granting the Company authority to repurchase up to $200.0 million of the Company's common stock over a three-year period, ending on May 19, 2025. The timing of stock repurchases, and the number of shares, will depend upon the market conditions and other factors. Share repurchases, if any, will be made in the open market and in privately negotiated transactions in accordance with applicable securities laws. The stock repurchase program may be modified, suspended, or terminated at any time by the Board of Directors. In 2022, the Company purchased 253,490 shares at a weighted average price of $94.89 per share, totaling $24.1 million. No purchases were made in 2023 or during the nine months ended September 30, 2024.