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Common Stock
 12 Months Ended
Dec. 31, 2021
Equity [Abstract]  
Common Stock

18.Common Stock

Changes in the number of common stock shares outstanding were as follows:

Year Ended December 31,

2021

2020

2019

Shares outstanding, beginning

21,318,638

22,119,380

22,192,894

Treasury shares repurchased through stock repurchase authorization

(225,205

)

(856,499

)

(116,034

)

Issuance of treasury shares for vesting of stock awards

102,060

31,442

18,205

Issuance of shares related to employee stock ownership plan

24,315

24,315

24,315

Shares outstanding, ending

21,219,808

21,318,638

22,119,380

On February 28, 2018, our Board of Directors approved an authorization for the repurchase of up to approximately $10,000 of the Company’s outstanding common stock. We completed the repurchase of 191,265 shares of our common stock for $2,966 during 2018, and an additional 116,034 shares for $2,006 during 2019. During the six months ended June 30, 2020, we completed the repurchase of 402,056 shares of our common stock for $4,996 to close out this authorization.

On May 4, 2020, our Board of Directors approved an additional authorization for the repurchase of up to approximately $10,000 of the Company’s outstanding common stock. During the year ended December 31, 2020, we completed the repurchase of 454,443 shares of our common stock for $7,238 under this authorization. During the nine months ended September 30, 2021, we completed the repurchase of 144,110 shares of our common stock for $2,762 to close out this authorization.

On August 11, 2021, our Board of Directors approved an additional authorization for the repurchase of up to approximately $5,000 of the Company’s outstanding common stock. During the six months ended December 31, 2021, we completed the repurchase of 81,095 shares of our common stock for $1,554 under this new authorization.

The cost of this treasury stock is a reduction of shareholders’ equity within our Consolidated Balance Sheets.