Share Repurchases (Notes) |
3 Months Ended |
|---|---|
Jun. 30, 2020 | |
| Payments for Repurchase of Equity [Abstract] | |
| Share Repurchases |
Share Repurchases
In May 2017, the Board of Directors authorized a share repurchase program whereby the Company may repurchase up to an aggregate of $2.0 million of its outstanding Class A Common Stock (the “2017 authorization”). The 2017 authorization is in addition to the $0.1 million that was remaining from the August 2011 $20.0 million authorization (the “2011 authorization”). There were no shares repurchased under the 2017 authorization during the three months ended June 30, 2020 or June 30, 2019. As of June 30, 2020, there was approximately $0.7 million remaining for additional share repurchases under the 2017 authorization.
Additionally, in the three months ended June 30, 2020 and June 30, 2019, the Company repurchased 55,167 and 80,936 shares of Class A Common Stock, respectively, from certain employees that were surrendered to satisfy the minimum statutory tax withholding obligations on the vesting of restricted stock, RSUs and PSUs. These repurchases were not included in the authorized share repurchase programs and had a weighted-average purchase price of $0.76 and $2.15 per share, respectively.
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