Stockholders' Equity

3 Months Ended

May 05, 2024

Equity [Abstract]

Stockholders' Equity

Stockholders’ Equity

Preferred Stock

We have 20.0 million authorized shares of undesignated preferred stock, the rights, preferences and privileges of which may be designated from time to time by our Board of Directors. At the end of the first quarter of fiscal 2025, there were no shares of preferred stock issued or outstanding.

Class A and Class B Common Stock

We have two classes of authorized common stock, Class A common stock, which we refer to as our "common stock", and Class B common stock. At the end of the first quarter of fiscal 2025, we had 2.0 billion authorized shares of Class A common stock and 250.0 million authorized shares of Class B common stock, with each class having a par value of $0.0001 per share. At the end of the first quarter of fiscal 2025, 325.2 million shares of Class A common stock were issued and outstanding.

Share Repurchase Program

In February 2024, our Board of Directors authorized an additional $250.0 million to repurchase shares of our common stock. We did not repurchase shares of our common stock during the first quarter of fiscal 2025. At the end of the first quarter of fiscal 2025, $395.4 million remained available for future share repurchases under our current repurchase authorization.