v3.26.1
Stock Repurchase Program
9 Months Ended
Sep. 30, 2025
Stock Repurchase Program [Abstract]  
Stock Repurchase Program Stock Repurchase Program
On March 30, 2021, Harbor's board of directors adopted a stock repurchase program pursuant to which Harbor was initially authorized to repurchase up to $1,000 of shares of its common stock during the first calendar month of the program, subject to an automatic increase of $1,000 per calendar month thereafter. The number of shares to be repurchased, and the timing of any such repurchases, depends on a number of factors, including the trading price and volume of the common stock, the Company's business strategy, financial performance, liquidity position and capital requirements, restrictions in commercial agreements, general market conditions, applicable legal requirements and other factors. Harbor is not obligated under the program to acquire any particular dollar amount or number of shares, and the program may be modified, suspended or terminated at any time and for any reason.
In January 2023, a federal corporate stock repurchase excise tax of 1.0% took effect once share repurchases exceed $1,000. Harbor accrued an excise tax liability of $0 and $20 during the nine months ended September 30, 2025 and as of December 31, 2024, respectively, which is included in the cost of Treasury stock in the condensed consolidated statements of stockholders’ equity. Harbor acquired a total of 0 and 63,925 shares of its common stock pursuant to the stock repurchase program for the three and nine months ended September 30, 2025, respectively, compared to 74,486 and 1,092,046 for the three and nine months ended September 30, 2024, respectively.