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Equity | 12 Months Ended
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Dec. 31, 2022
Equity |
Equity | Note 7: Equity Dividends The Company did not pay any dividends during the years ended December 31, 2022 and 2021. Preferred stock and common stock There were no issuances of preferred stock or common stock during the years ended December 31, 2022 and 2021 other than stock awarded to employees and the Board of Directors as well as the shares issued as part of the Newswire acquisition (see Note 4).
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Table of Contents
Stock repurchase and retirement On August 7, 2019, the Company publicly announced a stock repurchase program under which the Company was authorized to repurchase up to $1,000,000 of its common shares. On March 16, 2020, the Company publicly announced that the Company increased the stock repurchase program to repurchase up to $2,000,000 of its common shares. As of March 31, 2021, the Company completed the repurchase program by purchasing a total of 179,845 shares as shown in the table below ($ in 000’s, except share or per share amounts):
|  | Shares Repurchased |
Period |  | Total Number of Shares Repurchased |  |  | Average Price Paid Per Share |  |  | Total Number of Shares Purchased as Part of Publicly Announced Program |  |  | Maximum Dollar Value of Shares that May Yet Be Purchased Under the Program |
August 7 -31, 2019 |  |  | 22,150 |  |  | $ | 9.34 |  |  |  | 22,150 |  |  | $ | 793 |
September 1-30, 2019 |  |  | 2,830 |  |  | $ | 10.00 |  |  |  | 2,830 |  |  | $ | 765 |
October 1-31, 2019 |  |  | 39,363 |  |  | $ | 10.44 |  |  |  | 39,363 |  |  | $ | 354 |
November 1-30, 2019 |  |  | 11,827 |  |  | $ | 10.43 |  |  |  | 11,827 |  |  | $ | 231 |
December 1-31, 2019 |  |  | — |  |  |  | — |  |  |  | — |  |  | $ | 231 |
January 1-31, 2020 |  |  | — |  |  |  | — |  |  |  | — |  |  | $ | 231 |
February 1-29, 2020 |  |  | — |  |  |  | — |  |  |  | — |  |  | $ | 231 |
March 1-31, 2020 |  |  | 21,700 |  |  | $ | 9.33 |  |  |  | 21,700 |  |  | $ | 1,028 |
April 1-30, 2020 |  |  | 22,698 |  |  | $ | 9.02 |  |  |  | 22,698 |  |  | $ | 823 |
May 1-31, 2020 |  |  | 39,500 |  |  | $ | 9.51 |  |  |  | 39,500 |  |  | $ | 448 |
No shares repurchased between June 2020 and February 2021
March 1-31, 2021 |  |  | 19,777 |  |  | $ | 22.89 |  |  |  | 19,777 |  |  | $ | — |
Total |  |  | 179,845 |  |  | $ | 11.15 |  |  |  | 179,845 |  |  | $ | — |
On March 1, 2022, the Company’s board of directors authorized a stock repurchase program under which the Company was authorized to repurchase up to $5,000,000 of its common shares. As of August 31, 2022, the Company completed the repurchase program by purchasing a total of 207,964 shares as shown in the table below ($ in 000’s, except share or per share amounts):
|  | Shares Repurchased |
Period |  | Total Number of Shares Repurchased |  |  | Average Price Paid Per Share |  |  | Total Number of Shares Purchased as Part of Publicly Announced Program |  |  | Maximum Dollar Value of Shares that May Yet Be Purchased Under the Program |
March 1-31, 2022 |  |  | 6,200 |  |  | $ | 29.35 |  |  |  | 6,200 |  |  | $ | 4,818 |
April 1-30, 2022 |  |  | 8,226 |  |  |  | 27.76 |  |  |  | 8,226 |  |  |  | 4,590 |
May 1-31, 2022 |  |  | 80,748 |  |  |  | 22.92 |  |  |  | 80,748 |  |  |  | 2,739 |
June 1-30, 2022 |  |  | 74,227 |  |  |  | 23.98 |  |  |  | 74,227 |  |  |  | 959 |
July 1-31, 2022 |  |  | 32,392 |  |  |  | 24.88 |  |  |  | 32,392 |  |  |  | 153 |
August 1-31, 2022 |  |  | 6,171 |  |  |  | 24.79 |  |  |  | 6,171 |  |  |  | — |
No shares repurchased between September 2022 and December 2022
Total |  |  | 207,964 |  |  | $ | 24.04 |  |  |  | 207,964 |  |  | $ | — |

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