SHAREHOLDER’S EQUITY

3 Months Ended

Jan. 02, 2022

Equity [Abstract]

SHAREHOLDER'S EQUITY

SHAREHOLDER’S EQUITY

Share Repurchases

The Company has a share repurchase program that is executed through purchases made from time to time either in the open market or otherwise. On May 4, 2021, the Board of Directors approved a $1 billion common stock repurchase program and terminated the previously approved share repurchase program. The authorization is effective for 36 months. As part of the share repurchase programs, the Company purchased treasury shares in open market purchases at market fair value, private purchases from Company employees, significant shareholders or beneficial interest owners at fair value and through an accelerated share repurchase (“ASR”) agreement with a third-party financial institution.

The following summarizes the activity of common stock repurchases under the programs for the three month periods ended January 2, 2022 and January 3, 2021:

	January 2, 2022					January 3, 2021
Three Month Periods Ended (in millions except per share data)	Number of Shares Repurchased	Average Price Per Share		Amount		Number of Shares Repurchased	Average Price Per Share		Amount
Open Market Purchases	1.1	$	97.44	$	110.0	—	$	—	$	—
Private Purchases	—	—		—		0.6	65.27		42.3
Total Purchases	1.1	$	97.44	$	110.0	0.6	$	—	$	42.3

During the fourth quarter ended September 30, 2021, SBH entered into a $150.0 million rule 10b5-1 repurchase plan to facilitate daily market share repurchases through September 16, 2022, until the cap is reached or until the plan is terminated. As of January 2, 2022 $125.9 million had been repurchased pursuant to the 10b5-1 repurchase plan.