XML 79 R20.htm IDEA: XBRL DOCUMENT v3.20.1
Note 14 - Accelerated Share Repurchases
 3 Months Ended
Mar. 31, 2020
Notes to Financial Statements  
Accelerated Share Repurchases Disclosure [Text Block]
14.
Accelerated Share Repurchase
 
In
May 2019,
the Company’s Board of Directors authorized a repurchase program of up to
$50.0
million shares of the Company’s common stock with
$30.0
million to be repurchased through an accelerated share repurchase program and up to
$20.0
million to be potentially repurchased on the open market from time-to-time. On
May 7, 2019,
the Company entered into an accelerated share repurchase agreement with Morgan Stanley & Co. LLC (“Morgan Stanley”) pursuant to a Fixed Dollar Accelerated Share Repurchase Transaction (“ASR Agreement") to purchase
$30.0
million of shares of its common stock. Pursuant to the terms of the ASR Agreement from
May 2019
to
January 2020,
the Company repurchased
0.6
million shares under the ASR Agreement at an average repurchase price of
$50.78
per share. The ASR Agreement settled on
January 14, 2020.
Through
March 31, 2020,
no
open market repurchases had been executed.