Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity

Stockholders' Equity
6 Months Ended
Jun. 30, 2017
Equity [Abstract]  
Stockholders' Equity
Stockholders’ Equity
Common Stock, par value $0.001 per share
We are authorized to issue up to 9,000,000 shares of common stock. There were 4,628,821 and 4,746,047 shares of common stock issued and 4,626,078 and 4,740,947 shares outstanding on June 30, 2017 and December 31, 2016, respectively. As part of the recapitalization of Sirius XM Canada, we issued 35,000 shares of our common stock to the holders of the shares of Sirius XM Canada.
As of June 30, 2017, there were 341,507 shares of common stock reserved for issuance in connection with outstanding stock based awards and common stock to be granted to members of our board of directors, employees and third parties.
Quarterly Dividends Declared, $0.01 per share
On April 25, 2017, our board of directors declared a dividend on our common stock in the amount of $0.01 per share of common stock to stockholders of record as of the close of business on May 10, 2017. The dividend was paid in cash on May 31, 2017 in the aggregate amount of $46,501. We also paid a dividend in cash on February 28, 2017 in the aggregate amount of $47,137. For a discussion of subsequent events refer to Note 17.
Stock Repurchase Program
As of June 30, 2017, our board of directors had approved for repurchase an aggregate of $10,000,000 of our common stock.  Our board of directors did not establish an end date for this stock repurchase program.  Shares of common stock may be purchased from time to time on the open market, pursuant to pre-set trading plans meeting the requirements of Rule 10b5-1 under the Exchange Act, in privately negotiated transactions, including transactions with Liberty Media and its affiliates, or otherwise.  As of June 30, 2017, our cumulative repurchases since December 2012 under our stock repurchase program totaled 2,359,319 shares for $8,749,538, and $1,250,462 remained available under our stock repurchase program.
The following table summarizes our total share repurchase activity for the six months ended:
June 30, 2017
June 30, 2016
Share Repurchase Type
Open Market (a)




As of June 30, 2017, $14,783 of common stock repurchases had not settled, nor been retired, and were recorded as Treasury stock within our unaudited consolidated balance sheets and unaudited consolidated statements of stockholders’ (deficit) equity. For a discussion of subsequent events refer to Note 17.
Preferred Stock, par value $0.001 per share
We are authorized to issue up to 50,000 shares of undesignated preferred stock with a liquidation preference of $0.001 per share.  There were no shares of preferred stock issued or outstanding as of June 30, 2017 and December 31, 2016.