v3.26.1
Stockholders' Equity
 3 Months Ended
Mar. 31, 2026
Stockholders' Equity Note [Abstract]  
Stockholders' Equity

(11) Stockholders’ Equity

The following table shows changes in the number of shares of our outstanding common stock:

 

 

Three months ended March 31,

 

 

 

2026

 

 

2025

 

 

 

(In thousands)

 

Common stock, beginning of period

 

 

31,810

 

 

 

33,368

 

Shares of common stock issued when sales restrictions on restricted stock units
   (“RSUs”) lapsed and performance-based stock units (“PSUs”) were earned

 

 

81

 

 

 

98

 

Common stock retired

 

 

(547

)

 

 

(444

)

Common stock, end of period

 

 

31,344

 

 

 

33,022

 

 

The above table excludes RSUs, director deferred shares, and PSUs, which do not have voting rights. As sales restrictions on RSUs lapse and PSUs are earned, we issue common shares with voting rights. As of March 31, 2026, we had a total of 209,706 RSUs and director deferred shares outstanding and 40,520 PSUs outstanding. The PSU outstanding balance is based on the number of PSUs

granted pursuant to the award agreements; however, the actual number of common shares earned could be higher or lower based on actual versus targeted performance. See Note 13 (Share-Based Transactions) for discussion of the PSU award structure.

On November 19, 2025, our Board of Directors (“Board”) authorized, and the Company announced, a share repurchase program for up to $475.0 million of our outstanding common stock for purchases from November 19, 2025 through December 31, 2026 (the “Share Repurchase Program”). Under the Share Repurchase Program, we repurchased 523,314 shares of our common stock in the open market for an aggregate purchase price of $135.0 million through March 31, 2026. Approximately $340.0 million remains available for repurchases of our outstanding common stock under the Share Repurchase Program as of March 31, 2026.