Stockholders' Equity |
9 Months Ended |
|---|---|
Sep. 30, 2022 | |
| Equity [Abstract] | |
| Stockholders' Equity | Stockholders’ Equity Share Repurchase Program On March 1, 2022, our board of directors approved a share repurchase program authorizing us to repurchase up to $150.0 million of our common stock, with no fixed expiration. Stock repurchases under this program may be made through any manner, including open market transactions, accelerated share repurchase agreements, or privately negotiated transactions with third parties, and in such amounts as management deems appropriate. Open market repurchases will be structured to occur in accordance with applicable federal securities laws, including within the pricing and volume requirements of Rule 10b-18 under the Securities Exchange Act of 1934, as amended. We may also, from time to time, enter into Rule 10b5-1 plans to facilitate repurchases of our shares of common stock under this authorization. This program does not obligate us to acquire any particular amount of common stock and may be modified, suspended or terminated at any time at the discretion of our board of directors. During the nine months ended September 30, 2022, using the Rule 10b5-1 plans, we repurchased a total of 5,664,151 shares of our common stock through open market purchases at an average per share price of $11.30 for a total repurchase of $64.0 million including broker commission. The repurchases were recorded as a reduction to stockholders' equity. We have made additional repurchases under the share repurchase program subsequent to September 30, 2022 of 1,204,387 shares of our common stock through open market purchases, amounting to $10.3 million, as of the date of filing.
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