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STOCKHOLDERS' EQUITY
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
STOCKHOLDERS' EQUITY STOCKHOLDERS' EQUITY
Common Stock
The following table shows the beginning and ending balances of our issued and outstanding common stock for the years ended December 31, 2024, 2023, and 2022:
Year Ended
December 31,
202420232022
Shares issued and outstanding, beginning balance50,664,471 60,555,661 65,968,224 
Issuance of common stock from vested restricted stock units758,737 774,579 841,861 
Issuance of common stock from exercise of stock options
8,208 182,067 116,592 
Issuance of common stock for employee stock purchase plan
148,157 175,446 158,134 
Issuance of common stock for the acquisition of Zenefits— — 193,221 
Repurchase of common stock
(1,771,254)(10,734,790)(6,398,279)
Awards effectively repurchased for required employee withholding taxes
(280,813)(288,492)(324,092)
Shares issued and outstanding, ending balance
49,527,506 50,664,471 60,555,661 
Stock Repurchases
In February 2020, our board of directors authorized a $300 million incremental increase to our ongoing stock repurchase program. In February 2022 and November 2022, our board of directors authorized a further $300 million and $200 million, respectively, incremental increase to this stock repurchase program. In February 2023 and July 2023, our board of directors authorized a further $300 million and $1 billion, respectively, incremental increase to this stock repurchase program. This repurchase authorization has no expiration.
On March 17, 2022, we completed a tender offer through which we repurchased 3,653,690 shares of common stock at a price of $86.50 per share, for total consideration of approximately $319 million, which includes costs directly attributable to the purchase. On December 6, 2022. we completed a second tender offer and purchased 1,515,258 shares of common stock at a price of $72.00 per share, for total consideration of approximately $111 million, which includes costs directly attributable to the purchase.
In August 2023, we completed a tender offer through which we repurchased 5,981,308 shares of common stock at a price of $107.00 per share, for total consideration of approximately $640 million. In September 2023, we repurchased 3,364,486 shares of common stock at a price of $107.00 per share, for total consideration of approximately $360 million, through a purchase agreement with our largest stockholder, Atairos Group, Inc. Atairos Group, Inc. agreed to proportionally sell additional shares so as to continue to beneficially own approximately 36% of the outstanding Shares immediately following the completion of the Closing.
We retire shares in the period they are acquired and account for the payment as a reduction to stockholders' equity (retained deficit).
The following table summarizes the share repurchases under this program for the years ended December 31, 2024, 2023 and 2022:
Year Ended
December 31,
202420232022
Total cost (in millions)$182 $1,112 $519 
Total shares1,771,254 10,734,790 6,398,279 
Average price per share$102.84 $103.59 $81.07 
As of December 31, 2024, $251 million remains available for repurchase under all authorizations approved by the board of directors.
Dividends
In February 2024, our board of directors authorized a dividend of $0.25 per share for an aggregate amount of approximately $13 million, which was paid in April 2024. In June 2024, our board of directors authorized a dividend of $0.25 per share for an aggregate amount of approximately $12 million, which was paid in July 2024. In September 2024, our board of directors authorized a dividend of $0.25 per share for an aggregate amount of approximately $12 million, which was paid in October 2024. In December 2024, our board of directors authorized a dividend of $0.25 per share for an aggregate amount of $12 million, which will be paid in the first quarter of 2025.