Stock Repurchase Program

9 Months Ended

Sep. 27, 2016

Stock Repurchase Program

Stock Repurchase Program

(12)  Stock Repurchase Program

On May 22, 2014, our Board of Directors approved a stock repurchase program under which we may repurchase up to $100.0 million of our common stock.  This stock repurchase program has no expiration date and replaced a previous stock repurchase program which was approved on February 16, 2012. All repurchases to date under our stock repurchase program have been made through open market transactions.  The timing and the amount of any repurchases will be determined by management under parameters established by our Board of Directors, based on an evaluation of our stock price, market conditions and other corporate considerations.

We did not repurchase any shares of common stock during the 13 week period ended September 27, 2016. For the 39 week period ended September 27, 2016, we paid approximately $4.1 million to repurchase 114,700 shares of our common stock. As of September 27, 2016, we had approximately $69.9 million remaining under our authorized stock repurchase program.  For the 13 and 39 week periods ended September 29, 2015, we paid approximately $1.6 million and $4.7 million, respectively, to repurchase 44,000 and 132,089 shares of our common stock, respectively.