Stockholders Equity

12 Months Ended

Dec. 29, 2023

Equity [Abstract]

Stockholders Equity

Stockholders’ Equity

Holders of voting common stock are entitled to one vote per share and to receive dividends. There was no noncontrolling interest outstanding as of December 29, 2023 or December 30, 2022 due to the Company’s purchase of outstanding equity shares of Parasol. See Note 3 for further information.

Changes in noncontrolling interests each period include net income attributable to noncontrolling interests and cash contributions by minority partners to the Company’s consolidated subsidiaries. There were no material cash contributions by minority partners for the years ended December 29, 2023, December 30, 2022, and December 31, 2021.

In July 2021, the Company amended its Amended and Restated Certificate of Incorporation which, among other things, effected a 150-for-1 stock split of its shares of common stock, increased the par value of its common stock from $0.001 to $0.01 per share, increased the authorized number of shares of its common stock to 500,000 and authorized 50,000 shares of preferred stock. There was no preferred stock outstanding as of December 29, 2023 and December 30, 2022. All references to share and per share amounts in the Company’s consolidated financial statements have been retrospectively revised to reflect the stock split, the increase in par value, and the increase in authorized shares.

Share Repurchase Program — On May 12, 2022, the Board authorized a $25,000 share repurchase program. Under the share repurchase program, Snap One may purchase shares of common stock on a discretionary basis from time to time through open market repurchases, privately negotiated transactions, or other means, including through Rule 10b5-1 trading plans or through other techniques such as accelerated share repurchases. The timing and number of shares repurchased will depend on a variety of factors, including stock price, trading volume, and general business and market conditions. The repurchase program was set to expire at the end of 2023, but on November 6, 2023, the Board extended the expiration of the repurchase program until the end of 2024. The repurchase program does not obligate the Company to acquire a specified number of shares and may be modified, suspended, or discontinued at any time at the Boards’ discretion.

Share repurchase activity consists of the following:

	December 29, 2023		December 30, 2022
Number of shares repurchased	27		269
Total cost	$	238	$	2,887
Average per share cost including commissions	$	8.81	$	10.71

The Company has elected to retire shares repurchased to date. Shares retired become part of the pool of authorized but unissued shares. The purchase price of the retired shares in excess of par value, including transaction costs, are recorded as a decrease to additional paid-in capital. As of December 29, 2023, there were no share repurchases included in accrued liabilities in the Company’s consolidated balance sheets which had not yet settled. As of December 30, 2022 there were $55 of share repurchases included in accrued liabilities in the Company’s consolidated balance sheets, as these repurchase transactions had not yet settled.