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Stockholders' Equity
 3 Months Ended
Mar. 26, 2022
Equity [Abstract]  
Stockholders' Equity Stockholders' Equity
An analysis of stockholders’ equity is shown below (share amounts not in thousands):
Common StockAdditional Paid in CapitalRetained
Earnings		Accumulated Other Comprehensive LossTotal Stockholders’
 Equity
SharesPar Value
For the three months ended March 26, 2022
Balance, December 31, 202163,738,409 $637 $408,834 $489,342 $(84,470)$814,343 
Net income (loss)— — — (24,851)— (24,851)
Other comprehensive income (loss), net of tax
— — — — (4,254)(4,254)
Issuance of common stock under incentive stock plans
172,920 2 (2)— — — 
Stock-based compensation — — 2,259 — — 2,259 
Repurchase of common shares (a)(62,179)(1)(303)— — (304)
Balance, March 26, 202263,849,150 $638 $410,788 $464,491 $(88,724)$787,193 
For the three months ended March 27, 2021
Balance, December 31, 202063,359,839 $633 $405,161 $422,928 $(133,635)$695,087 
Net income (loss)— — — (27,027)— (27,027)
Other comprehensive income (loss), net of tax
— — — — (7,234)(7,234)
Issuance of common stock under incentive stock plans
369,713 4 (4)— — — 
Stock-based compensation— — (653)— — (653)
Repurchase of common shares (a)(132,196)(1)(1,418)— — (1,419)
Balance, March 27, 202163,597,356 $636 $403,086 $395,901 $(140,869)$658,754 
(a) Repurchased to satisfy the tax withholding requirements related to the issuance of stock under the Rayonier Advanced Materials Incentive Stock Plan.
Common Stock Buyback
On January 29, 2018, the Board of Directors authorized a share buyback program pursuant to which the Company may, from time to time, purchase shares of its common stock with an aggregate purchase price of up to $100 million. During the three months ended March 26, 2022 and March 27, 2021, the Company did not repurchase any common shares under this buyback program. As of March 26, 2022, there was approximately $60 million of share repurchase authorization remaining under the program. The Company does not expect to utilize any further authorization in the near future.
Shareholder Rights Plan
On March 21, 2022, the Company adopted a shareholder rights plan (the “Rights Agreement”) whereby a significant penalty is imposed upon any person or group which acquires beneficial ownership of 10% or more of the Company Common Stock without the approval of the Board of Directors (the “Board”). Also on this date, the Board declared a dividend of one preferred share purchase right (a “Right”) for each outstanding share of common stock of the Company, par value $0.01 per share (“Company Common Stock”), payable on March 31, 2022 to Company stockholders of record as of the close of business on March 31, 2022.

The Rights trade with, and are inseparable from, shares of the Company Common Stock. Each Right will allow its holder to purchase from the Company one one-hundredth of a share of Series A Junior Participating Preferred Stock for $35.00, once the Rights become exercisable. This portion of a Preferred Share will give the stockholder approximately the same dividend, voting and liquidation rights as would one share of Company Common Stock. The Rights will not be exercisable until 10 days after the public announcement or public disclosure that a person or group has become an “Acquiring Person” by obtaining beneficial ownership of 10% or more of the outstanding Company Common Stock (including certain derivative positions), subject to certain exceptions. The Rights will expire on March 20, 2023.