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Note 7 - Treasury Stock
3 Months Ended
Mar. 31, 2017
Notes to Financial Statements  
Treasury Stock [Text Block]
7
.
TREASURY STOCK
 
Share Repurchase Program.
On
July
1,
2015,
the Company’s board of directors (the “Board”) authorized up to
$250
million of share repurchases (subject to a total cap of
600,000
shares of Company common stock). Purchases under the share repurchase program
may
be made from time to time on the open market and in privately negotiated transactions. The size and timing of these purchases will be based on a number of factors, including share price and business and market conditions. Through
March
31,
2017,
the Company had repurchased
165,633
shares at an aggregate cost of
$73.1
million. During the
three
months ended
March
31,
2017,
the Company repurchased
700
shares at an aggregate cost of
$0.4
million.
 
Restricted Stock Tax Withholding.
Treasury stock is recorded at cost and is presented as a reduction of stockholders’ equity in the Condensed Consolidated Financial Statements. Shares of common stock with a fair market value equal to the applicable statutory minimum amount of the employee withholding taxes due are withheld by the Company upon the vesting of restricted stock to pay the applicable statutory minimum amount of employee withholding taxes and are considered common stock repurchases. The Company then pays the applicable statutory minimum amount of withholding taxes in cash. The amount remitted during the
three
months ended
March
31,
2017
was
$0.3
million for which the Company withheld
517
shares of common stock. Treasury shares of
164,124
held at
March
31,
2017
includes the aforementioned shares withheld for withholding tax.