Annual report pursuant to Section 13 and 15(d)

Stockholders' Equity

v3.8.0.1
Stockholders' Equity
 12 Months Ended
Dec. 31, 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 4,530,928 and 4,746,047 shares of common stock issued and 4,527,742 and 4,740,947 shares outstanding on December 31, 2017 and 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 December 31, 2017, there were 311,780 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
During the year ended December 31, 2017, our board of directors declared the following dividends:
Declaration Date
 
Dividend Per Share
 
Record Date
 
Total Amount
 
Payment Date
January 24, 2017
 
$
0.010

 
February 7, 2017
 
$
47,137

 
February 28, 2017
April 25, 2017
 
$
0.010

 
May 10, 2017
 
$
46,501

 
May 31, 2017
July 11, 2017
 
$
0.010

 
August 10, 2017
 
$
46,216

 
August 31, 2017
October 3, 2017
 
$
0.011

 
November 9, 2017
 
$
50,388

 
November 30, 2017

Stock Repurchase Program
As of December 31, 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 December 31, 2017, our cumulative repurchases since December 2012 under our stock repurchase program totaled 2,474,135 shares for $9,377,120, and $622,880 remained available under our stock repurchase program.
The following table summarizes our total share repurchase activity for the years ended:
 
 
December 31, 2017
 
December 31, 2016
 
December 31, 2015
Share Repurchase Type
 
Shares
 
Amount
 
Shares
 
Amount
 
Shares
 
Amount
Open Market (a)
 
270,527

 
$
1,403,283

 
420,111

 
$
1,672,697

 
524,222

 
$
2,015,947

(a)
As of December 31, 2017, $17,154 of common stock repurchases had not settled, nor been retired, and were recorded as Treasury stock within our consolidated balance sheets and 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 December 31, 2017 and 2016.