Note 7 - Stockholders' Equity

12 Months Ended

Dec. 01, 2018

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

Note

7:

Stockholders' Equity

Preferred Stock

The Board of Directors is authorized to issue up to

10,045,900

shares of preferred stock that

may

be issued in

one

or more series and with such stated value and terms as the Board of Directors

may

determine.

Common Stock

There were

160,000,000

shares of common stock with a par value of

$1.00

authorized and

50,732,796

and

50,388,839

shares issued and outstanding at

December 1, 2018

and

December 2, 2017,

respectively.

On

April 6, 2017,

the Board of Directors authorized a share repurchase program of up to

$200,000

of our outstanding common shares for a period of up to

five

years. Under the program, we are authorized to repurchase shares for cash on the open market, from time to time, in privately negotiated transactions or block transactions, or through an accelerated repurchase agreement. The timing of such repurchases is dependent on price, market conditions and applicable regulatory requirements. Upon repurchase of the shares, we reduce our common stock for the par value of the shares with the excess being applied against additional paid-in capital. This authorization replaces the

September 30, 2010

authorization to repurchase shares. We did

not

repurchase any shares during

2018

under our share repurchase program. During

2017,

we repurchased

375,000

shares for

$19,114

and during

2016,

we repurchased

500,000

shares for

$20,861

under our repurchase programs. Up to

$187,170

of our outstanding common shares

may

still be repurchased under the current share repurchase program.

Common Shares Outstanding	2018			2017			2016
Beginning balance		50,388,839			50,141,343			50,074,310
Stock options exercised		198,849			514,064			593,891
Shares swapped for stock option exercises		-			-			(71,659	)
Deferred compensation paid		7,152			24,048			7,235
Restricted units vested		209,137			140,614			105,552
Shares withheld for taxes		(71,181	)		(56,230	)		(67,807	)
Restricted shares forfeited		-			-			(179	)
Shares repurchased under repurchase program		-			(375,000	)		(500,000	)
Ending balance		50,732,796			50,388,839			50,141,343