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Purchases Of Common Stock For Treasury | 9 Months Ended
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May 31, 2023
Purchases Of Common Stock For Treasury [Abstract] |
Purchases Of Common Stock For Treasury | NOTE 5 – PURCHASES OF COMMON STOCK FOR TREASURY Our purchases of common stock during the first three quarters of fiscal 2023 were comprised of open-market purchases and shares withheld on stock-based compensation awards (see Note 7). Our stock-based compensation plans allow shares to be withheld to cover statutory income taxes if so elected by the award recipient. These shares are valued at the market price on the date the shares are withheld. Shares purchased during the first three quarters of fiscal 2023 consisted of the following (in thousands):
| Common Shares |  | Cost
Open market purchases |  | 743 |  | $ | 28,837
Shares withheld for taxes on stock- |  |  |  |  |
based compensation awards |  | 18 |  |  | 835
|  | 761 |  | $ | 29,672
On February 14, 2023, our Board of Directors approved a new plan to purchase up to $50.0 million of our outstanding common stock. The previously existing common stock purchase plan was canceled, and the new common share purchase plan does not have an expiration date. The actual timing, number, and value of common shares purchased under our board-approved plan will be determined at our discretion and will depend on a number of factors, including, among others, general market and business conditions, the trading price of common shares, and applicable legal requirements. We have no obligation to purchase any of our common shares under the authorization, and the purchase plan may be suspended, discontinued, or modified at any time for any reason.

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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 https://asc.fasb.org/subtopic&trid=2208821 + Details
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