XML 38 R25.htm IDEA: XBRL DOCUMENT v3.3.1.900
Note 19 - Subsequent Event
12 Months Ended
Dec. 31, 2015
Notes to Financial Statements  
Subsequent Events [Text Block]
19. Subsequent Events
 
On February 26, 2016, the Company entered into an accelerated stock repurchase agreement with Morgan Stanley & Co. LLC (“Morgan Stanley”) pursuant to a Fixed Dollar Accelerated Share Repurchase Transaction ("ASR Agreement") to purchase $25.0 million of shares of its common stock. Pursuant to the terms of the ASR Agreement, the Company paid Morgan Stanley $25.0 million in cash and received an initial delivery of 377,155 shares of the Company’s common stock on February 29, 2016. The total number of shares to be repurchased will be based generally on the daily volume-weighted average share prices of the Company’s common stock during the term of the transaction. At settlement, Morgan Stanley may be required to deliver additional shares of common stock to the Company, or, under certain circumstances, the Company may be required to deliver shares of its common stock or may elect to make a cash payment to Morgan Stanley. Final settlement of the ASR Agreement is expected to be completed in the third quarter of 2016, although the settlement may be accelerated at Morgan Stanley’s option or extended, in either case subject to certain terms and conditions.