Shareholders' equity

6 Months Ended

Dec. 29, 2023

Equity [Abstract]

Shareholders' equity

Shareholders’ equity

Share capital

Fabrinet’s authorized share capital is 500,000,000 ordinary shares, par value of $0.01 per ordinary share, and 5,000,000 preferred shares, par value of $0.01 per preferred share.

For the three and six months ended December 29, 2023, Fabrinet issued 4,384 and 151,178 ordinary shares, respectively, upon the vesting of restricted share units and performance share units under the Equity Incentive Plans, net of shares withheld.

For the three and six months ended December 30, 2022, Fabrinet issued 6,034 and 202,881 ordinary shares, respectively, upon the vesting of restricted share units and performance share units under the Equity Incentive Plans, net of shares withheld.

All such issued shares are fully paid.

Treasury shares

In August 2017, the Company’s board of directors approved a share repurchase program to permit the Company to repurchase up to $30.0 million worth of its issued and outstanding ordinary shares in the open market in accordance with applicable rules and regulations. In February 2018, May 2019, August 2020, August 2022, and August 2023, the Company’s board of directors approved an increase of $30.0 million, $50.0 million, $58.5 million, $78.7 million, and $47.6 million, respectively, to the original share repurchase authorization, bringing the aggregate authorization to $294.8 million.

During the six months ended December 29, 2023, 38,239 shares were repurchased under the program, at an average price per share (excluding other direct costs) of $166.61, for an aggregate purchase price of $6.4 million. As of December 29, 2023, the Company had a remaining authorization to repurchase up to $93.6 million worth of its ordinary shares under the share repurchase program. Shares repurchased under the share repurchase program are held as treasury shares.