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Share Repurchase Program
9 Months Ended
Sep. 30, 2024
Disclosure Text Block [Abstract]  
Share Repurchase Program

11. Share Repurchase Program

 

In November 2023, the Board approved a share repurchase program (the “Share Repurchase Program”), authorizing the Company to repurchase up to $50,000 of common shares outstanding. Under the Share Repurchase Program, management is authorized to purchase common shares from time to time through open market purchases or privately negotiated transactions at prevailing prices as permitted by securities laws and other legal requirements, and subject to market conditions and other factors.

 

No shares were repurchased during the three months ended September 30, 2024. During the nine months ended September 30, 2024, we repurchased 1,675,815 of our common shares for $25,000 at an average price of $14.92 per share. These repurchases are recorded at cost as treasury shares within the unaudited condensed consolidated statement of financial position and unaudited condensed consolidated statement of shareholders' equity. As of September 30, 2024, a total of $25,000 remained available for future repurchases of our common shares under our Share Repurchase Program.