Related Party Transactions

3 Months Ended

Mar. 31, 2018

13.	RELATED PARTY TRANSACTIONS

Based solely on information provided in its most recent public filing, as of December 31, 2017, FMR LLC held approximately 13% of the Company’s outstanding common stock. As reported by the Company’s administrative agent, as of March 31, 2018, investment funds managed by an affiliate of FMR LLC held approximately $42 million in principal amount of the Amended and Restated 2016 Term Loan. Certain FMR LLC affiliates provide recordkeeping services for the Company’s 401(k) plan and provide administrative services for other Company sponsored employee benefit plans. Fees earned by FMR LLC affiliates are not material to the Company’s consolidated financial statements.

During fiscal year 2017, the Company completed four secondary offerings of its common stock held primarily by the Sponsors. Following the completion of the final offering in December 2017, the Sponsors no longer hold any shares of the Company’s common stock. The Company did not receive any proceeds from the offerings. In accordance with terms of the previously-effective registration rights agreement with the Sponsors, the Company incurred approximately $4 million of expenses in connection with the offerings during fiscal year 2017, approximately $1 million of which was incurred during the 13-weeks ended April 1, 2017. Underwriting discounts and commissions were paid by the selling shareholders.