Stockholders' Equity |
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| Stockholders' Equity | 11. Stockholders’ Equity NGCS Acquisition In May 2025, we completed the NGCS Acquisition and issued approximately 2.3 million shares of common stock to NGCSE sellers as part of the acquisition purchase price. The NGCS acquisition date fair value was $53.0 million and is reflected in common stock and additional paid-in capital in our condensed consolidated statements of equity. See Note 3 (“Business Transactions”) for further details. Share Repurchases Share Repurchase Program Our Board of Directors authorized the Share Repurchase Program in April 2023 that allowed us to repurchase and retire up to $50.0 million of outstanding common stock. Between April 2024 and October 2025, extensions of the Share Repurchase Program were approved by our Board of Directors to repurchase and retire outstanding common stock through December 31, 2026. As of June 30, 2026, available capacity under the Share Repurchase Program was $113.2 million. Under the Share Repurchase Program, shares of our common stock may be repurchased periodically, including in the open market, privately negotiated transactions, or otherwise in accordance with applicable federal securities laws, at any time. Since the inception of the Share Repurchase Program in April 2023 and through June 30, 2026, we have repurchased 4,632,263 shares of common stock at an average price of $20.91 per share, for an aggregate of $96.9 million. As of June 30, 2026, we have retired all of the shares of common stock that had been previously repurchased under the Share Repurchase Program. Shares Withheld Related to Net Settlement of Equity Awards The 2020 Plan allows us to withhold shares upon vesting of restricted stock at the then-current market price to cover taxes required to be withheld on the vesting date. The following table summarizes shares repurchased and shares withheld:
Cash Dividends The following table summarizes our dividends declared and paid in each of the quarterly periods of 2026 and 2025:
On July 23, 2026, our Board of Directors declared a quarterly dividend of $0.23 per share of common stock, or approximately $40.5 million, to be paid on August 11, 2026 to stockholders of record at the close of business on August 4, 2026. |
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