Shareholders' Equity

12 Months Ended

Jan. 01, 2012

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders’ Equity

On October 24, 2006, Susser Holdings Corporation completed an IPO of 7,475,000 shares of its common stock at a price of $16.50 per share. In December 2011, the Company completed the public offering of 3,775,000 shares of its Common Stock at a price of $21.75 per share. The net proceeds from the offering were approximately $77.5 million, after deducting underwriting discounts, commissions and offering expenses. A total of 125,000,000 shares of common stock have been authorized, $0.01 par value, of which 17,402,934 were issued and 17,361,406 were outstanding as of January 2, 2011, and 21,374,451 were issued and 20,814,800 were outstanding as of January 1, 2012, respectively. Included in these amounts are 297,919 and 225,810 shares as of January 2, 2011 and January 1, 2012, respectively, which represent restricted shares that are not yet vested and have no voting rights. Treasury shares consist of 41,528 and 559,651 shares as of January 2, 2011 and January 1, 2012, respectively, issued as restricted shares which were forfeited prior to vesting, were withheld to pay employee payroll taxes upon vesting or were repurchased in the open market. Options to purchase 793,494 shares of common stock are outstanding as of January 1, 2012, 318,948 of which are vested (See Note 17).

On June 2, 2011, the Company announced the approval of a stock repurchase program pursuant to which the Company could elect to repurchase up to $15 million of its outstanding common stock. Purchases can be made from time to time in the open market or in privately negotiated transactions. Timing of the purchases and the amount of stock purchased will be determined at the discretion of the Company’s management and could include purchases through one or more broker-assisted plans (including 10b5-1 and/or 10b-18 plans). The repurchase authorization expires December 31, 2012. Included in treasury shares at January 1, 2012 are 483,843 shares repurchased and settled by the Company during 2011 pursuant to the stock repurchase program at a total value of $9.0 million.

A total of 25,000,000 preferred shares have also been authorized, par value $0.01 per share, although none have been issued.