Annual report pursuant to Section 13 and 15(d)

Equity Transactions

v3.20.4
Equity Transactions
12 Months Ended
Dec. 31, 2020
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 6).
During the year ended December 31, 2020, and 2019 the Company acquired 41,600 and 3,912 shares of Common Stock for treasury, respectively, under the Securities repurchase plan for an aggregate purchase price of $1.4 million and $0.1 million, respectively. As of December 31, 2020, the Company's repurchase authority for the Securities was $102.2 million. During the years ended December 31, 2018, the Company acquired no shares of Common Stock for treasury under the Securities repurchase plan.
During the years ended December 31, 2020 and 2019, the Company acquired for treasury 17,730 and 8,338 shares of Common Stock, respectively, for aggregate purchase prices of $0.6 million and $0.4 million, respectively, from its employees to cover their tax withholding obligations related incentive equity award transactions. These shares were purchased in accordance with the terms of the Company’s Share Incentive Plans and not pursuant to the repurchase plan authorization granted by SEACOR’s Board of Directors.
Stock Issuances. 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.