Stockholders' Equity

12 Months Ended

Jan. 02, 2015

Stockholders' Equity Note [Abstract]

Stockholders’ Equity

Note 8: Stockholders’ Equity

Preferred Stock

The Company has authorized 5,000,000 shares of undesignated preferred stock with a par value of $0.001 per share. The Company committed to stockholders in a letter dated May 23, 2006 to limit its use to 2,000,000 preferred shares, unless the approval of the Company’s stockholders is obtained subsequently, such as through a further amendment to the Company’s authorized capital stock. None of the preferred shares were issued and outstanding at January 2, 2015 and January 3, 2014.

Dividends

The Company declared and paid cash dividends per common share during the periods presented as follows:

	Fiscal Year 2014
	Dividends		Amount
	Per Share		(in thousands)
First Quarter	$	0.25	$	3,262
Second Quarter	$	0.25		3,270
Third Quarter	$	0.25		3,262
Fourth Quarter	$	0.25		3,216
			$	13,010

	Fiscal Year 2013
	Dividends		Amount
	Per Share		(in thousands)
First Quarter	$	0.15	$	1,969
Second Quarter	$	0.15		1,998
Third Quarter	$	0.15		1,945
Fourth Quarter	$	0.15		1,965
			$	7,877

Prior to 2013 the Company had never paid cash dividends on its common stock. On February 4, 2015 the Company’s Board of Directors announced a cash dividend of $0.30 per share of the Company’s common stock, payable March 27, 2015, to stockholders of record as of March 6, 2015. The Company expects to continue paying quarterly dividends in the future, subject to declaration by the Company’s Board of Directors.

Treasury Stock

Net losses related to the re-issuance of treasury stock to settle restricted stock unit and stock option awards of $6,050,000, $10,383,000 and $10,600,000 were recorded as a reduction to retained earnings during fiscal 2014, 2013 and 2012, respectively.

Repurchase of Common Stock

The Company repurchased 425,000 shares of its common stock for $30,921,000 during the fiscal year ended January 2, 2015. The Company repurchased 438,000 shares of its common stock for $25,011,000 during the fiscal year ended January 3, 2014. The Company repurchased 480,000 shares of its common stock for $23,395,000 during the fiscal year ended December 28, 2012. On May 29, 2014 the Board of Directors authorized an additional $35,000,000 for the repurchase of Exponent’s common stock. On February 15, 2013 the Board of Directors authorized an additional $35,000,000 for the repurchase of Exponent’s common stock. On February 9, 2012 the Board of Directors authorized $35,000,000 for the repurchase of Exponent’s common stock. These repurchase programs have no expiration dates. As of January 2, 2015, the Company had remaining authorization under its stock repurchase plan of $35,078,000 to repurchase shares of common stock.