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SHAREHOLDERS' EQUITY
 6 Months Ended
Jun. 30, 2022
SHAREHOLDERS' EQUITY
8.
SHAREHOLDERS’ EQUITY
At-the-Market
Offering Program
On August 6, 2021, we entered into a sales agreement with Robert W. Baird & Co. Inc. (“Baird”), which enables the Company to issue and sell shares of Common stock in one or more negotiated transactions or transactions that are deemed to be “at the market” offerings as defined in Rule 415 under the Securities Act of 1933, as amended (the “Securities Act”), for a maximum aggregate offering amount of up to $300,000 (the “ATM Program”). The offer and sale of our Common stock pursuant to the ATM Program has been registered under the Securities Act pursuant to our automatically effective shelf registration statement on Form
S-3
(File
No. 333-260758).
On February 25, 2022, we entered into an amended and restated sales agreement, together with Baird and Goldman Sachs & Co. LLC (“GS”), for the purpose of adding GS as an additional sales agent and making necessary conforming changes. The amended and restated sales agreement otherwise retains all material terms of the original sales agreement.
As of June 30, 2022, no shares of Common stock had been sold under the ATM Program.
Common Stock Dividends
We paid cash dividends of $2.20, $1.95, $4.15, and $3.725 per share of both Common stock and Class B common stock during the quarters and six months ended June 30, 2022 and 2021, respectively.
Non-Vested
Restricted Stock
During the quarter and six months ended June 30, 2022, 8,181 shares of Class B common stock with an aggregate fair market value of $2,179 were withheld as payment in lieu of cash to satisfy tax withholding obligations in connection with the vesting of
non-vested
restricted stock. These shares were retired upon delivery. There were no shares of
non-vested
restricted stock that vested during the quarter and six months ended June 30, 2021.
Exercise of Stock Options
Cash received from Common stock issued as a result of stock options exercised during the quarters and six months ended June 30, 2022 and 2021, was $3,267, $4,377, $7,222, and $7,846, respectively.
During the quarter and six months ended June 30, 2021, 2,965 shares of Common stock with an aggregate fair market value of $863 were withheld as payment in lieu of cash for stock option exercises. These shares were retired upon delivery.
Employee Stock Purchase Plan
During the quarters ended June 30, 2022 and 2021, we received net proceeds of $541 and $436, respectively, for shares of our Common stock purchased under our employee stock purchase plan. During the six months ended June 30, 2022 and 2021, we received net proceeds of $1,006 and $841, respectively, for shares of our Common stock purchased under our employee stock purchase plan.