4 unchanged sentences
The Company paid cash dividends of $0.60 per share in 2023 to holders of Class A and Class B Stock for a total of $6.5 million.
+Added: The Company paid cash dividends of $0.60 per share in 2022 to holders of Class A and Class B Stock for a total of $7.0 million.
The Company paid cash dividends of $1.54 per share in 2021 to holders of Class A and Class B Stock, including a special dividend of $1.00 per share paid on December 31, 2021, for a total of $19.4 million.
−Removed: The Company paid cash dividends of $1.48 per share in 2020 for a total of $18.6 million.
The payment of dividends in the future is subject to the discretion of our Board of Directors and will depend upon general business conditions, legal and contractual restrictions on the payment of dividends and other factors that our Board of Directors may deem to be relevant.
1 unchanged sentence
The Class A Stock underlying all vested options, if exercised, and restricted shares could be sold pursuant to Rule 144 or effective registration statements on Form S-8.
−Removed: (b) The following table sets forth information about the stockholders of the Company as of February 28, 2023 as set forth in the records of the Company's transfer agent and registrar:
+Added: (b) The following table sets forth information about the stockholders of the Company as of March 1, 2024 as set forth in the records of the Company's transfer agent and registrar:
Number of Shares Outstanding Number of Stockholders of Record
4 unchanged sentences
2014 Incentive Plan (the "OIP") pursuant to which the Compensation Committee of the Board of Directors of the Company grants options to purchase Class A Stock, restricted Class A Stock awards and Class A Stock awards to officers, directors and key employees of the Company and its subsidiaries.
+Added: The OIP expired by its terms on February 26, 2024.
+Added: On March 1, 2024 the Board of Directors adopted the Company’s 2024 Incentive Plan which is subject to shareholder approval at the Annual Meeting of Stockholders on May 6, 2024.
The Company's share-based compensation plans are described in note 17 to the consolidated financial statements appearing in Item 8.
7 unchanged sentences
Stock Buy-Back and Repurchase of Senior Secured Notes
−Removed: On May 15, 2020, the Company announced that its Board of Directors approved a share repurchase program that authorizes the Company to purchase up to 530,000 shares of the Company's Class A Stock, representing approximately 4.2% of its 12,636,523 then issued and outstanding shares of Class A Stock.
−Removed: This authorization supplemented the 98,625 shares that remained authorized and available under the Company's previous share repurchase program for a total of 628,625 shares authorized and available for repurchase at May 15, 2020.
On February 28, 2022, the Company announced that its Board of Directors approved a share repurchase program that authorizes the Company to purchase up to 518,000 shares of the Company's Class A Stock, representing approximately 4.2% of its 12,322,073 then issued and outstanding shares of Class A Stock.
6 unchanged sentences
This authorization supplemented the 144,034 shares that remained authorized and available under the Company's previous share repurchase program for a total of 223,699 shares authorized.
−Removed: During the year ended December 31, 2022, the Company purchased and canceled an aggregate of 1,684,287 (15%) shares of Class A Stock for a total consideration of $60.6 million ($36.00 per share).
+Added: On May 31, 2023, the Company announced the commencement of a modified “Dutch Auction” tender offer to purchase up to $30.0 million of its Class A Stock at a price not less than $34.00 per share or more than $40.00 per share.
+Added: The Company completed its repurchases pursuant to the tender offer on July 6, 2023, when it successfully repurchased and cancelled 437,183 shares of Class A Stock at $40.00 per share for an aggregate purchase price of $17.49 million.
+Added: As a result, the Company had 10,447,392 shares outstanding on July 6, 2023 after the purchase.
+Added: During the year ended December 31, 2023, the Company purchased and canceled an aggregate of 463,335 shares of Class A Stock for a total consideration of $17.6 million ($38.07 per share) under its share repurchase program.
As of December 31, 2023, 223,699 shares remained available to be purchased under its share repurchase program.
−Removed: During the year ended December 31, 2021, the Company purchased and canceled an aggregate of 177,192 shares of Class A Stock for a total consideration of $7.7 million ($43.67 per share).
+Added: During the year ended December 31, 2022, the Company purchased and canceled an aggregate of 1,684,287 shares of Class A Stock for a total consideration of $60.6 million ($36.00 per share) under its share repurchase program.
As of December 31, 2022, 687,034 shares remained available to be purchased under the share repurchase program.
+Added: One purpose of the tender offer, among others, was to assure that sufficient liquidity existed for our stockholder that might have been required to sell shares of Class A Stock when the shares were removed from the Russell 2000 and 3000 indices at the end of June 2023.
+Added: On March 1, 2024, the Company's Board of Directors approved a share repurchase program that authorizes the Company to purchase up to 518,000 shares of the Company's Class A Stock, representing approximately 5.0% of its 10,357,376 then issued and outstanding shares of Class A Stock.
+Added: This authorization supplemented the 120,155 shares that remained authorized and available under the Company's previous share repurchase program for a total of 638,155 shares authorized.
Any such share purchases will be made by the Company from time to time in the open market at the prevailing open market price using cash on hand, in compliance with the applicable rules and regulations of the New York Stock Exchange and federal and state securities laws and the terms of the Company's Notes.
5 unchanged sentences
During the fourth quarter of 2023, the Company issued 791 shares of Class A Stock pursuant to the Company's share-based compensation plans to employees of the Company for no cash consideration.
−Removed: Such issuances were exempt from registration pursuant to Section 4(a)(2) of the Securities Act.
−Removed: The following table provides information regarding purchases of shares of Class A Stock during the fourth quarter:
+Added: Such issuances were exempt from registration pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”).
+Added: The following table provides information regarding purchases of shares of Class A Stock during the fourth quarter of 2023:
(a) (b) (c) (d)
3 unchanged sentences
December 1 - 31, 2023 3,693 $39.85 3,693 223,699
−Removed: — $— — 687,034
Q4 2023 Total 103,241 $37.61 103,241 223,699
−Removed: (1) On December 13, 2022, the Company announced that its Board of Directors approved a share repurchase program that authorizes the Company to purchase up to 543,000 shares of the Company's Class A Stock.
(1) None of the foregoing authorizations is subject to expiration.
3 unchanged sentences
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.