Treasury Stock

3 Months Ended

Mar. 27, 2020

Class Of Stock Disclosures [Abstract]

Treasury Stock

11. Treasury Stock

The Company’s Board of Directors has authorized the repurchase of its stock up to a total of $30.0 million. The Company did not purchase shares for treasury during the 2020 first quarter. As of March 27, 2020, the Company had repurchased approximately 3.2 million of shares pursuant to the authorization and had approximately $7.7 million left in its current stock repurchase authorization.

During the 2020 first quarter, the Company issued 380,128 shares out of treasury stock primarily to fulfill the share requirements from purchases of stock in the Non-Employee Director Deferred Compensation Plan, stock option exercises, and restricted stock grants.

The Company did not purchase shares for treasury during the 2019 first quarter. At March 29, 2019, the Company had approximately $7.7 million remaining in its stock repurchase authorization. During the 2019 first quarter, the Company issued 215,326 out of treasury stock primarily to fulfill the share requirements from purchases of stock in the Non-Employee Director Deferred Compensation Plan, stock options exercises, and restricted stock grants.