This excerpt taken from the HWK 10-Q filed May 6, 2009.
Issuer Purchases of Equity Securities
On November 24, 2008, we announced a plan, approved by our Board of Directors, to repurchase up to $15.0 million of our shares of Class A common stock in the open market, through privately negotiated transactions or otherwise, in accordance with securities laws and regulations (the Plan). Under the terms of our indenture relating to the senior notes as of March 31, 2009, we are limited to repurchase up to $13.2 million of our shares of Class A common stock based on our cumulative net income through March 31, 2009.
The approximate value of additional shares that may be repurchased pursuant to the Plan is $8.3 million ($6.6 million under the indenture limitation). The Plan will expire when the aggregate repurchase price limit is met, unless terminated earlier by our Board of Directors.