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Treasury Stock
9 Months Ended
Sep. 30, 2021
Equity [Abstract]  
Treasury Stock

Note 11. Treasury Stock

In September 2019, the Company’s Board of Directors (the Board) approved a share repurchase program (the 2019 Program) pursuant to which the Company could purchase up to $7.0 million of shares of its common stock over the twelve month period following the establishment of the program. The repurchases under the 2019 Program were made from time to time in the open market or in privately negotiated transactions and were funded from the Company’s working capital. Repurchases are made in compliance with Rule 10b-18 of the Securities Exchange Act of 1934, as amended, subject to market conditions, available liquidity, cash flow, applicable legal requirements and other factors. In September 2020, the Board approved an extension to the 2019 Program for an additional twelve-month period ending September 2021. The 2019 Program expired in September 2021.

During the three and nine months ended September 30, 2021, the Company repurchased 7,200 shares of its common stock for a total cost of $97,000. Since inception of the 2019 Program through September 30, 2021, the Company repurchased a total of approximately 170,000 shares of the common stock for a total cost of $1.7 million.