Common Stock Repurchases

3 Months Ended

Mar. 29, 2025

Common Stock Repurchases [Abstract]

Common Stock Repurchases

Common Stock Repurchases

We periodically repurchase, at the then-current market price, and cancel common stock issued to the Dorman Products, Inc. 401(k) Retirement Plan and Trust (the “401(k) Plan”). 401(k) Plan participants can no longer purchase shares of Dorman common stock as an investment option under the 401(k) Plan. Shares are generally purchased by the Company from the 401(k) Plan when participants sell units as permitted by the 401(k) Plan or elect to leave the 401(k) Plan upon retirement,

termination, or other reasons. The following table summarizes the repurchase and cancellation of common stock by the Company for the periods indicated:

	Three Months Ended
	March 29, 2025		March 30, 2024
Shares repurchased and canceled	2,070		7,759
Total cost of shares repurchased and canceled (in thousands)	$	261	$	673
Average price per share	$	126.08	$	86.77

Separately, our Board of Directors previously authorized the repurchase of up to $600 million of our common stock through December 31, 2024, under a share repurchase program and subsequent authorizations (the “Prior Program”). The Prior Program expired on December 31, 2024, along with all amounts that remained available for use under the Prior Program as of that date.

In October 2024, the Company’s Board of Directors authorized the purchase of up to $500 million of our common stock under a new share repurchase program that is effective from January 1, 2025, through December 31, 2027 (the “New Program”). At March 29, 2025, $488 million was available for repurchase under the New Program.

Under each of the Prior Program and the New Program, share repurchases may be made from time to time depending on market conditions, share price, share availability, and other factors at the Company’s discretion. The share repurchase programs do not obligate us to acquire any specific number of shares.

The following table summarizes the repurchase and cancellation of common stock under the New Program in the three months ended March 29, 2025, and under the Prior Program in the three months ended March 30, 2024:

	Three Months Ended
	March 29, 2025		March 30, 2024
Shares repurchased and canceled	93,800		310,173
Total cost of shares repurchased and canceled (in thousands)	$	11,818	$	26,463
Average price per share	$	125.99	$	85.32