STOCKHOLDERS' EQUITY |
6 Months Ended |
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Jun. 30, 2026 | |
| STOCKHOLDERS' EQUITY | |
| STOCKHOLDERS' EQUITY | NOTE 7 — STOCKHOLDERS’ EQUITY The Board of Directors has authorized an aggregate of $150 million of repurchases of the Company’s common stock since March 2025. During the three months ended June 30, 2026, the Company repurchased no shares of its common stock. During the six months ended June 30, 2026, the Company repurchased 123,061 shares of the Company’s common stock at an average cost of $80.11 per share. At June 30, 2026, treasury stock at cost was $76.1 million. At June 30, 2026, the Company had $50 million of capacity for repurchases of its common stock remaining under the current authorization from the Board of Directors. The Company may repurchase shares of common stock from time to time on the open market or by other means in accordance with applicable securities laws and other restrictions, including, in part, under a Rule 10b5-1 plan. The number of shares to be repurchased and the timing of additional repurchases, if any, will depend on several factors, including market conditions, prevailing share price, corporate and regulatory requirements, and other considerations. The share repurchase plan has no expiration date, may be discontinued or suspended at any time and does not obligate the Company to acquire any amount of its common stock. The Company records common stock that it repurchases as treasury stock at cost. Treasury stock is reissued at average cost. During the first quarter of 2026, the Company completed a follow-on public equity offering of approximately 2.3 million shares of the Company’s common stock (including the underwriters’ overallotment option) at a public offering price of $85.00 per share, resulting in proceeds, net of underwriting discounts and commissions of approximately $186.5 million.
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