XML 33 R22.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Equity (Policies) - USD ($)
 6 Months Ended
Jun. 30, 2024
Feb. 09, 2023
Jan. 27, 2022
Equity [Abstract]      
Stockholders' Equity, Policy
6. Stockholders’ equity
Stock Repurchase Program. On January 27, 2022, the Company’s board of directors authorized the repurchase of up to $100.0 million of its Class A common stock, and on February 9, 2023, the Company’s board of directors authorized the repurchase of an additional $40.0 million of its Class A common stock. Stock repurchases under the program may be made periodically using a variety of methods, including without limitation, open market purchases, block trades or otherwise in compliance with all federal and state securities laws and state corporate law and in accordance with the single broker, timing, price, and volume guidelines set forth in Rule 10b-18 and Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, as such guidelines may be modified by the SEC from time to time. This stock repurchase program has no time limit and may be modified, suspended, or discontinued at any time. The Company currently intends to hold its repurchased shares as treasury stock.
As of June 30, 2024, the remaining amount of share repurchases under the program was $60.4 million. The following table summarizes share repurchases during the three and six months ended June 30, 2024 and 2023.
Three months ended June 30,Six months ended June 30,
(in thousands, except per share data)2024202320242023
Shares repurchased— 3,606 — 4,496 
Average price per share$— $4.16 $— $4.45 
Value of shares repurchased$— $15,000 $— $20,000 
    
Stock Repurchase Program, Remaining Authorized Repurchase Amount $ 60,400,000    
Stock Repurchase Program, Authorized Amount   $ 40 $ 100