Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Class of Treasury Stock

Our open market repurchase programs are as follows:

Agreement Execution Date

Authorized Repurchase $

Expiration Date

March 5, 2019 1

$20 million

March 4, 2020

March 13, 2020

$20 million

November 9, 2022

November 3, 2022

$50 million

**2

1 The 2018 and 2019 purchase authorizations were executed under 10b5-1 programs.

2 Expiration Date is at Board's discretion. The Company is authorized to effectuate repurchases of the Company's common stock on terms and conditions approved in advance by the Board.

The Company repurchases shares of AAON stock from employees for payment of statutory tax withholdings on stock transactions. All other repurchases from directors or employees are contingent upon Board approval. All repurchases are done at current market prices.

Schedule of Share Repurchases

Our repurchase activity is as follows:


	2022					2021					2020
	(in thousands, except share and per share data)
Program	Shares	Total $		$ per share		Shares	Total $		$ per share		Shares	Total $		$ per share
Open market	122,112	$	6,823	$	55.87	—	$	—	$	—	103,689	$	4,987	$	48.10
401(k)	103,936	5,913		56.89		297,772	20,876		70.11		438,921	25,073		57.12
Directors & employees	17,228	1,019		59.15		22,526	1,590		70.59		23,272	1,169		50.23
Total	243,276	$	13,755	$	56.54	320,298	$	22,466	$	70.14	565,882	$	31,229	$	55.19

Our repurchase activity since Company inception, including our current authorized stock repurchase programs are as follows:


	Inception to Date
	(in thousands, except share and per share data)
Program	Shares	Total $		$ per share
Open market	4,327,367	$	81,616	$	18.86
401(k)	8,308,368	171,789		20.68
Directors & employees	2,044,955	23,360		11.42
Total	14,680,690	$	276,765	$	18.85

Schedule of Dividends

Our cash dividends for the three years ended December 31, 2022 are as follows:


Declaration Date	Record Date	Payment Date	Dividend per Share






May 15, 2020	June 3, 2020	July 1, 2020	$0.19
November 10, 2020	November 27, 2020	December 18, 2020	$0.19
May 17, 2021	June 3, 2021	July 1, 2021	$0.19
November 9, 2021	November 26, 2021	December 17, 2021	$0.19
May 18, 2022	June 3, 2022	July 1, 2022	$0.19
November 8, 2022	November 28, 2022	December 16, 2022	$0.24