Annual report pursuant to Section 13 and 15(d)

Equity Transactions

v3.19.3.a.u2
Equity Transactions
12 Months Ended
Dec. 31, 2019
Equity [Abstract]  
Stockholders' Equity Note Disclosure
12. EQUITY TRANSACTIONS
Stock Repurchases. SEACOR’s Board of Directors previously approved a securities repurchase plan that authorizes the Company to acquire its Securities, which may be acquired through open market purchases, privately negotiated transactions or otherwise, depending on market conditions (see Note 7).
During the year ended December 31, 2019, the Company acquired 3,912, shares of Common Stock for treasury under the Securities repurchase plan for an aggregate purchase price of $0.1 million. As of December 31, 2019, the Company's repurchase authority for the Securities was $129.9 million. During the years ended December 31, 2018 and 2017, the Company acquired no shares of Common Stock for treasury under the Securities repurchase plan.
During the years ended December 31, 2019 and 2017, the Company acquired for treasury 8,338 and 212,659 shares of Common Stock, respectively, for aggregate purchase prices of $0.4 million and $12.3 million, respectively, from its employees to cover their tax withholding obligations related to share award transactions. These shares were purchased in accordance with the terms of the Company’s Share Incentive Plans and not pursuant to the repurchase authorizations granted by SEACOR’s Board of Directors.
Stock Issuances. On June 1, 2017, the Company completed the Spin-off of SEACOR Marine by means of a dividend of all of the issued and outstanding common stock of SEACOR Marine to SEACOR’s shareholders. In the Spin-off, holders of SEACOR Common Stock received approximately 1.005 shares of SEACOR Marine common stock for each share of SEACOR Common Stock held as of the record date for the Spin-off.
On December 20, 2017, the Company distributed 3,977,135 shares of Dorian common stock with a value of $31.4 million (based on the closing share price on that date) to its stockholders with each holder of Common Stock receiving approximately 0.2215 shares of Dorian common stock for each share of SEACOR Common Stock held as of the record date for such distribution. The Compensation Committee of the Board of Directors elected, at its discretion, to distribute shares of Dorian on the Company’s restricted shares outstanding on the record date rather than depositing the shares in escrow pending the lapsing of restrictions.
On August 2, 2019, the Company acquired the Remaining SEA-Vista Interest (See Note 1). As part of the consideration for the Remaining SEA-Vista Interest, the Company issued the Consideration Shares in a private placement exempt from registration under the Securities Act of 1933, as amended.
In connection with the issuance of the Consideration Shares, the Seller agreed to certain restrictions on its ability to dispose of the Consideration Shares pursuant to a Lock-Up Agreement, dated August 2, 2019, between the Company and the Seller (the “Lock-Up Agreement”). Pursuant to the Lock-Up Agreement, the Seller was prohibited from distributing the Consideration Shares to its limited partners prior to November 1, 2019 and from otherwise transferring or disposing of the Consideration Shares in any other manner on or prior to February 2, 2020. On November 15, 2019, the Seller distributed the shares to its partners, effectively terminating the Lock-Up Agreement.