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STOCKHOLDERS' EQUITY | 3 Months Ended
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Jun. 30, 2024
Equity [Abstract] |
STOCKHOLDERS' EQUITY | Stockholders' Equity There are two classes of authorized Company common stock: Class A common stock and Class B common stock. The rights of the holders of Class A common stock and Class B common stock are identical, except with respect to voting and conversion rights. Each share of Class A common stock is entitled to one vote per share, and each share of Class B common stock is entitled to ten votes per share. Each share of Class B common stock may be converted into one share of Class A common stock at the option of its holder and will be automatically converted into one share of Class A common stock upon transfer thereof, subject to certain exceptions. Class A Common Stock During the three months ended June 30, 2024 and 2023, 5,248 and 6,609 shares were issued to non-employee directors and 608,084 and 651,068 shares were converted from Class B to Class A, respectively. As of June 30, 2024, there were 52,983,316 Class A shares held by the public and 70,183 Class A shares held by non-employee directors. As of June 30, 2023, there were 51,231,666 Class A shares held by the public and 64,935 Class A shares held by non-employee directors. Class B Common Stock As of June 30, 2024 and 2023, there were 16,456,793 and 18,035,565 Class B shares held by the HL Voting Trust, respectively. Dividends Previously declared dividends related to unvested shares of $15,840 and $14,673 were unpaid as of June 30, 2024 and 2023, respectively. Share Repurchases In April 2022, the board of directors authorized an increase to the existing July 2021 share repurchase program, which provides for share repurchases of a new aggregate amount of up to $500.0 million of the Company's Class A common stock and Class B common stock. As of June 30, 2024, shares with a value of $457.7 million remained available for purchase under the program. During the three months ended June 30, 2024 and 2023, the Company repurchased 672,581 and 507,511 shares, respectively, of Class B common stock, to satisfy $100,993 and $69,766, respectively, of required withholding taxes in connection with the vesting of restricted awards. There were no regular share repurchases made under the existing share repurchase program during the three months ended June 30, 2024

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