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Note 12 - Common Stock Repurchase Program
12 Months Ended
Jan. 01, 2022
Notes to Financial Statements  
Treasury Stock [Text Block]

Note 12 - Common Stock Repurchase Program

 

On February 19, 2021, our Board of Directors approved a stock repurchase program pursuant to which up to $60.0 million of outstanding common stock could be repurchased from time to time (the "2021 Repurchase Program"). The duration of the 2021 Repurchase Program is twelve months. Under the 2021 Repurchase Program during the fourth quarter of fiscal 2021, we repurchased approximately 60,800 shares for approximately $4.9 million, or an average price paid per share of $80.55. As of January 1, 2022, the amount authorized for the twelve-month 2021 Repurchase Program had been fully utilized. All repurchases were open market transactions funded from available working capital. All shares repurchased pursuant to the 2021 Repurchase Program were retired by the end of the 2021 fiscal year.

 

On November 8, 2021, we announced that our Board of Directors had approved a stock repurchase program pursuant to which up to an additional $100.0 million of outstanding common stock could be repurchased from time to time (the "2022 Repurchase Program"). The duration of the 2022 Repurchase Program is through the end of December 2022. Under the 2022 Repurchase Program during the fourth quarter of fiscal 2021, we repurchased approximately 125,400 shares for $10.1 million, or an average price paid per share of $80.55. As of January 1, 2022, the remaining portion of the amount authorized for the 2022 Repurchase Program is approximately $89.9 million. All repurchases were open market transactions funded from available working capital. All shares repurchased pursuant to the 2022 Repurchase Program were retired by the end of the 2021 fiscal year.