19 unchanged sentences
such other factors as our Board may deem relevant.
+Added: Share Repurchases
+Added: In the first quarter of 2018, the Board of Directors approved a share repurchase program authorizing up to $50.0 million in share repurchases.
+Added: In the first quarter of 2020, the Board of Directors approved an increase in the stock repurchase authorization by $50.0 million and in the fourth quarter of 2020, the Board approved an additional authorization up to $150 million.
+Added: The program may be discontinued or amended at any time without notice.
+Added: This table provides certain information with respect to our monthly repurchases of the Company’s common stock during the fourth quarter of fiscal year 2020:
+Added: Total Number of Shares Purchased
+Added: Average Price Paid per Share
+Added: Total Number of Shares Purchased as Part of Publically Announced Plan
+Added: Approximate Dollar Value of Shares That May Yet Be Purchased Under the Plan
+Added: October 1, 2020, through October 31, 2020
+Added: November 1, 2020, through November 30, 2020
+Added: All share repurchases were made using cash resources and executed pursuant to established Rule 10b5-1 trading plans.
+Added: Our share repurchases may occur through open market purchases or negotiated transactions.
+Added: The above table excludes shares repurchased to settle employee tax withholding related to the vesting of stock awards.
+Added: We returned $47.4 million to shareholders in the form of share repurchases in the fourth quarter of fiscal year 2020.
+Added: Refer to Note 1 – Basis of Presentation of the Notes to Consolidated Financial Statements (Part II, Item 8 of this Form 10-K) for further discussion regarding share repurchases.
Recent Sales of Unregistered Securities
16 unchanged sentences
2014 Equity Incentive Plan
−Removed: October 24, 2019
−Removed: 2014 Equity Incentive Plan
−Removed: October 28, 2019
−Removed: 2014 Equity Incentive Plan
−Removed: October 31, 2019
−Removed: 2014 Equity Incentive Plan
November 2, 2020
8 unchanged sentences
2014 Equity Incentive Plan
−Removed: November 8, 2019
−Removed: 2014 Equity Incentive Plan
−Removed: November 11, 2019
−Removed: 2014 Equity Incentive Plan
−Removed: November 11, 2019
−Removed: 2014 Equity Incentive Plan
−Removed: November 15, 2019
−Removed: 2014 Equity Incentive Plan
−Removed: November 15, 2019
−Removed: 2014 Equity Incentive Plan
−Removed: November 25, 2019
+Added: December 4, 2020
2014 Equity Incentive Plan
21 unchanged sentences
Selected Financial Data
−Removed: The following tables set forth, for the periods and at the dates indicated, our selected historical consolidated financial data.
−Removed: We have derived the selected consolidated financial data as of December 31, 2019 and 2018, and for the years ended December 31, 2019, 2018 and 2017 from our audited consolidated financial statements appearing elsewhere in this Annual Report on Form 10-K.
−Removed: W e have derived the selected consolidated financial data as of December 31, 2017, 2016 and 2015 and for the years ended December 31, 2016 and 2015 from our audited consolidated financial statements not appearing elsewhere in this Annual Report on Form 10-K.
−Removed: Our historical results are not necessarily indicative of the results we may achieve in any future period.
−Removed: On July 25, 2016, the Board approved, and made legally effective, a 1-for-1.35 reverse stock split of the Company’s common stock.
−Removed: All share, stock option and per share information presented in the consolidated financial statements have been adjusted to reflect the reverse stock split on a retroactive basis for all periods presented.
−Removed: There was no change in the par value of the Company’s common stock.
−Removed: You should read the following information together with the more detailed information contained in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and our consolidated financial statements and the accompanying notes appearing elsewhere in this Annual Report on Form 10‑K.
−Removed: (in thousands except per share data)
−Removed: YEAR ENDED DECEMBER 31,
−Removed: Consolidated Statements of
−Removed: Service revenue, net
−Removed: Reimbursed out-of-pocket revenue
−Removed: Total revenue
−Removed: Operating expenses:
−Removed: Direct service costs, excluding depreciation and amortization
−Removed: Reimbursed out-of-pocket expenses
−Removed: Total direct costs
−Removed: Selling, general and administrative
−Removed: Impairment of goodwill
−Removed: Total operating expenses
−Removed: Income from operations
−Removed: Other (expense) income, net:
−Removed: Loss on extinguishment of debt
−Removed: Miscellaneous (expense) income, net
−Removed: Interest expense, net
−Removed: Total other expense, net
−Removed: Income (loss) before income taxes
−Removed: Income tax provision
−Removed: Net income (loss)
−Removed: Net income (loss) per share attributable to common shareholders:
−Removed: Weighted average common shares outstanding:
−Removed: Cash Flow Data:
−Removed: Net cash provided by operating activities
−Removed: Net cash used in investing activities
−Removed: Net cash used in financing activities
−Removed: Other Financial Data:
−Removed: Backlog (at period end) (1)
−Removed: Net new business awards (2)
−Removed: AS OF DECEMBER 31,
−Removed: (Amounts in thousands )
−Removed: Consolidated Balance Sheet
−Removed: Cash and cash equivalents
−Removed: Restricted cash
−Removed: Accounts receivable billed and unbilled, net:
−Removed: Working capital
−Removed: Total long-term debt, net (including current portion)
−Removed: Total liabilities
−Removed: Total shareholders' equity
−Removed: Total liabilities and shareholders' equity
−Removed: Backlog represents anticipated future net revenue from net new business awards that have commenced, but have not been completed.
−Removed: However, because the contracts included in our backlog are generally terminable without cause, we do not believe that our backlog as of any date is necessarily a meaningful predictor of future results.
−Removed: Net new business awards are new business awards net of award modifications and cancellations that had been recognized in backlog during the period.
−Removed: New business awards represent the value of anticipated future net revenue that has been awarded during the period that is recognized in backlog.
−Removed: This value is recognized upon the signing of a contract or receipt of a written pre-contract confirmation from a customer that confirms an agreement in principle on budget and scope.
−Removed: New business awards also include contract amendments, or changes in scope, where the customer has provided written authorization for changes in budget and scope or has approved us to perform additional work as of the measurement date.
−Removed: Awards may not be recognized as backlog after consideration of a number of factors, including whether (i) the relevant net revenue is expected only after a pending regulatory hurdle, which might result in cancellation of the study, (ii) the customer funding needed for commencement of the study is not believed to have been secured or (iii) study timelines are uncertain or not well defined.
−Removed: In addition, study amounts that extend beyond three years from measurement date are not included in backlog.
−Removed: The number and amount of new business awards can vary significantly from period to period, and an award’s contractual duration can range from several months to several years based on customer and project specifications.
−Removed: The years ended December 31, 2019 and 2018 are presented on an ASC 606 basis.
−Removed: All other periods are presented on an ASC 605 basis.
+Added: Not applicable.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.