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Note 7 - Common Stock, Treasury Stock and Warrants
 3 Months Ended
Mar. 31, 2023
Notes to Financial Statements  
Equity [Text Block]

7. Common stock, treasury stock and warrants

 

Common stock

 

As of  March 31, 2023 and December 31, 2022, the number of issued shares of common stock was 85,545,397 and 84,385,458, respectively, which included shares of treasury stock of 4,611,569 and 4,300,152, respectively.

 

For the three months ended March 31, 2023, the change in the number of issued shares of common stock was the result of an aggregate 1,159,939 shares of common stock issued upon vesting of RSUs, including 311,417 shares of common stock withheld to cover statutory taxes upon such vesting, which are reflected in treasury stock, as discussed below.

 

Treasury stock

 

As of  March 31, 2023 and December 31, 2022, the Company held shares of treasury stock of 4,611,569 and 4,300,152, respectively with a cost of $11,407 and $11,171, respectively.

 

The Company's share-based incentive plans allow employees the option to either make cash payment or forfeit shares of common stock upon vesting to satisfy federal and state statutory tax withholding obligations associated with equity awards. The forfeited shares of common stock may be taken into treasury stock by the Company or sold on the open market. For the three months ended March 31, 2023, 311,417 shares of common stock were withheld to cover statutory taxes owed by certain employees for this purpose, all of which were taken into treasury stock. See Note 8, Share-based compensation.