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Insider Trading Arrangements | 3 Months Ended | 6 Months Ended
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Jun. 30, 2023 shares | Jun. 30, 2023 shares
Trading Arrangements, by Individual |  |
Material Terms of Trading Arrangement |  | On June 16, 2023, Anthony Welters, a director of the Company, adopted a trading plan with respect to the exercise of expiring stock appreciation rights (“SARs”) granted to Mr. Welters as director compensation in 2013 and 2014 (the “Plan”). The Plan is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act. Pursuant to the Plan, if the market price of the Company’s common stock exceeds the exercise price for the applicable SARs by a specified amount during the applicable trading window, the applicable SARs will be exercised and the net shares received by Mr. Welters from such exercise will be sold at market prices. 2,250 SARs expire on each of December 31, 2023, March 31, 2024, June 30, 2024, September 30, 2024 and December 31, 2024. The trading window under the Plan for each such expiration begins on the first trading day of the expiration month and ends on the expiration date.
Non-Rule 10b5-1 Arrangement Adopted | false |
Rule 10b5-1 Arrangement Terminated | false |
Non-Rule 10b5-1 Arrangement Terminated | false |
Anthony Welters [Member] |  |
Trading Arrangements, by Individual |  |
Name | Anthony Welters |
Title | director |
Rule 10b5-1 Arrangement Adopted | true |
Adoption Date | June 16, 2023 |
Arrangement Duration | 396 days |
Aggregate Available | 2,250 | 2,250

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