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Shareholders' Equity (Tables) | 12 Months Ended
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Dec. 31, 2022
Equity [Abstract] |
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

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