Quarterly report pursuant to Section 13 or 15(d)

Stock Repurchase Program

v3.19.3
Stock Repurchase Program
9 Months Ended
Sep. 30, 2019
Equity [Abstract]  
Stock Repurchase Program
Stock Repurchase Program
On February 21, 2019, the Board of Directors authorized a stock repurchase program for up to 850,000 shares of its outstanding common stock over twenty-four months. The shares will be purchased from time to time at prevailing market prices, through open market or privately negotiated transactions, depending on market conditions. Under the program, the purchases will be funded from available working capital, and the repurchased shares will be returned to the status of authorized, but unissued shares of common stock or held in treasury. There is no guarantee as to the exact number of shares that will be repurchased by the Company, and the Company may discontinue purchases at any time that management determines additional purchases are not warranted.
During the nine-month period ended September 30, 2019 the Company did not purchase any shares under the stock repurchase program.