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Shareholders' Equity
 3 Months Ended
Mar. 31, 2022
Stockholders' Equity Note [Abstract]  
Shareholders' Equity

(11.) SHAREHOLDERS’ EQUITY

Common Stock

The changes in shares of common stock were as follows for the three months ended March 31, 2022 and 2021:

 

 

 

Outstanding

 

 

Treasury

 

 

Issued

 

2022

 

 

 

 

 

 

 

 

 

Shares at December 31, 2021

 

 

15,745,453

 

 

 

354,103

 

 

 

16,099,556

 

Restricted stock units released

 

 

23,271

 

 

 

(23,271

)

 

 

—

 

Treasury stock purchases

 

 

(469,647

)

 

 

469,647

 

 

 

—

 

Shares at March 31, 2022

 

 

15,299,077

 

 

 

800,479

 

 

 

16,099,556

 

 

 

 

 

 

 

 

 

 

 

2021

 

 

 

 

 

 

 

 

 

Shares at December 31, 2020

 

 

16,041,926

 

 

 

57,630

 

 

 

16,099,556

 

Shares issued for Landmark Group acquisition

 

 

12,831

 

 

 

(12,831

)

 

 

—

 

Restricted stock units released

 

 

18,819

 

 

 

(18,819

)

 

 

—

 

Treasury stock purchases

 

 

(244,677

)

 

 

244,677

 

 

 

—

 

Shares at March 31, 2021

 

 

15,828,899

 

 

 

270,657

 

 

 

16,099,556

 

 

Share Repurchase Program

In November 2020, the Company’s Board of Directors authorized a share repurchase program for up to 801,879 shares of common stock. Repurchased shares are recorded in treasury stock, at cost, which includes any applicable transaction costs. 461,191 shares were repurchased at an average price of $31.99 during the three months ended March 31, 2022. 238,439 shares were repurchased under this program during the three months ended March 31, 2021 and 340,688 shares were repurchased during the year ended December 31, 2021. As of March 31, 2022, there were no shares remaining for repurchase under the repurchase program.