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Treasury Stock | 12 Months Ended
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Sep. 30, 2021
Stockholders Equity Note [Abstract] |
Treasury Stock | Note 10. Treasury Stock In March 2017, the Board of Directors authorized the repurchase of up to $5,000,000 of the Company’s common stock beginning March 9, 2017 and continuing through March 9, 2019. In May 2017, the Board of Directors authorized the repurchase of up to an additional $2,000,000 of the Company’s common stock beginning May 24, 2017 and continuing through May 24, 2019. The stock repurchases made under this repurchase were made through open market transactions at times and in such amounts as the Company’s broker determined subject to the provisions of SEC Rule 10b-18. On October 3, 2018, the Company completed a tender offer of 752,234 shares at a price of $34.00 per share aggregating $25,575,956. 734 Investors, Alico's largest stockholder from 2013 until November 12, 2019, participated in the tender offer by selling a small percentage of its holdings. On October 10, 2019, the Board of Directors authorized the repurchase of up to 7,000 shares of the Company’s common stock from 734 Investors in a privately negotiated repurchase of shares. On October 15, 2019, the Company entered into a repurchase agreement to repurchase a total of 7,000 shares of the Company’s common stock from 734 Investors, effective October 15, 2019. The following table illustrates the Company’s treasury stock purchases for the fiscal years ended September 30, 2021, 2020 and 2019:
(in thousands, except share amounts) |  | Total Number of Shares Purchased |  |  | Average Price Paid Per Share |  |  | Total Shares Purchased as Part of Publicly Announced Plan or Program |  |  | Total Dollar Value of Shares Purchased |
Fiscal Year Ended September 30,: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2021 |  |  | — |  |  | $ | — |  |  |  | — |  |  | $ | — |
2020 |  |  | 7,000 |  |  | $ | 33.95 |  |  |  | 1,481,640 |  |  | $ | 238 |
2019 |  |  | 752,234 |  |  | $ | 34.00 |  |  |  | 1,474,640 |  |  | $ | 25,576 |
The following table outlines the Company’s treasury stock transactions during the past three fiscal years:
(in thousands, except share amounts) |  | Shares |  |  | Cost |
Balance at September 30, 2018 |  |  | 216,188 |  |  | $ | 7,536 |
Purchased |  |  | 752,234 |  |  |  | 25,576 |
Issued to Employees and Directors |  |  | (28,790 | ) |  |  | (1,169 | )
Balance at September 30, 2019 |  |  | 939,632 |  |  |  | 31,943 |
Purchased |  |  | 7,000 |  |  |  | 238 |
Issued to Employees and Directors |  |  | (23,011 | ) |  |  | (1,402 | )
Balance at September 30, 2020 |  |  | 923,621 |  |  |  | 30,779 |
Purchased |  |  | — |  |  |  | — |
Issued to Employees and Directors |  |  | (33,480 | ) |  |  | (926 | )
Balance at September 30, 2021 |  |  | 890,141 |  |  | $ | 29,853 |

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- Definition The entire disclosure for treasury stock, including, but not limited to, average cost per share, description of share repurchase program, shares repurchased, shares held for each class of treasury stock. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -URI http://asc.fasb.org/subtopic&trid=2208821 + Details
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