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Note 12 - Stock Repurchase Program
9 Months Ended
Sep. 30, 2024
Notes to Financial Statements  
Treasury Stock [Text Block]

12.   Stock Repurchase Program

 

In  July 2022, the Company's Board of Directors approved a stock repurchase program, which commenced on August 5, 2022, and allowed for the repurchase of up to $500,000 of the Company's common stock over a 24-month period. Additionally, on February 12, 2024, the Company’s Board of Directors approved a new stock repurchase program that allows for the repurchase of up to $500,000 of the Company’s common stock over the following 24 months. The new program replaces the prior share repurchase program, which had $26,297 remaining available for repurchase when the new program was approved. Pursuant to the approved program, the Company may repurchase its common stock from time to time, in amounts and at prices the Company deems appropriate, subject to market conditions and other considerations. The repurchases may be executed using open market purchases, privately negotiated agreements or other transactions. The actual timing, number and value of shares repurchased under the program will be determined by management at its discretion and in compliance with the terms of the Company's credit agreements. The repurchases may be funded with cash on hand, available borrowings, or proceeds from potential debt or other capital markets sources. The stock repurchase program may be suspended or discontinued at any time without prior notice.

 

During the third quarter of 2024, the Company repurchased 690,711 shares of common stock for $102,134. During the second quarter of 2024, the Company repurchased 355,640 shares of common stock for $50,609. There were no share repurchases under the program during the first quarter of 2024. During the third quarter of 2023, the Company repurchased 875,580 shares of common stock for $100,267. There were no share repurchases during the first and second quarters of 2023. The Company has periodically reissued shares out of Treasury stock, including for acquisition contingent consideration payments.