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Treasury Stock

3 Months Ended

Mar. 31, 2023

From time to time, our Board of Directors authorizes management to repurchase shares of our issued and outstanding common stock. Our share repurchase programs typically utilize various methods to effect the repurchases, including open market repurchases, negotiated block transactions, accelerated share repurchases or open market solicitations for shares, some or all of which could be effected through Rule 10b5-1 plans. We do not currently have any approved repurchase programs in progress.

We also repurchase shares of our issued and outstanding common stock to satisfy the cost of stock option exercises and/or income tax withholding obligations relating to the stock-based compensation of our employees and directors.

Repurchased shares of our common stock were as follows:


	Three Months Ended March 31,
(In thousands)	2023		2022
Open market shares repurchased	—		175
Stock-based compensation related shares repurchased	53		50
Total shares repurchased	53		225

Cost of open market shares repurchased	$	—	$	5,721
Cost of stock-based compensation related shares repurchased	812		1,633
Total cost of shares repurchased	$	812	$	7,354

Repurchased shares are recorded as shares held in treasury at cost. We hold these shares for future use as management and the Board of Directors deem appropriate.