4 unchanged sentences
Dividend Policy
−Removed: On December 5, 2017, March 6, 2018, June 12, 2018, September 17, 2018, December 3, 2018, March 1, 2019, June 13, 2019, September 9, 2019 and November 26, 2019, our Board of Directors declared quarterly cash dividends in the amount of $0.25 per share.
−Removed: We intend to continue to pay such quarterly cash dividends for the foreseeable future;
−Removed: however, the payment of future dividends is at the discretion of our Board of Directors and is based on future earnings, cash flow, financial condition, capital requirements, changes in U.S.
+Added: On December 3, 2018, March 1, 2019, June 13, 2019, September 9, 2019 and November 26, 2019, our Board of Directors declared quarterly cash dividends in the amount of $0.25 per share.
+Added: On March 2, 2020, the Board of Directors declared a quarterly dividend of $0.25 per share on the Company’s common stock which was to be paid on April 6, 2020, to shareholders of record at the close of business on March 16, 2020.
+Added: On March 13, 2020, the Company announced that, in light of the unprecedented circumstances and rapidly changing situation with respect to COVID-19, as part of an overall plan to preserve cash flow, the Board of Directors determined that it was appropriate for the Company to defer payment of the dividend that was declared on March 2, 2020.
+Added: On July 1, 2020, the dividend declared on March 2, 2020 was canceled.
+Added: The payment of future dividends is at the discretion of the Company’s Board of Directors and is based on future earnings, cash flow, financial condition, capital requirements, changes in U.S.
taxation and other relevant factors.
+Added: The Company does not expect to pay quarterly cash dividends for the foreseeable future as a result of the disruption to its operations from the COVID-19 pandemic.
Purchases of Equity Securities by Issuer and Affiliated Purchases
−Removed: There were no purchases made during the fourth quarter of the issuer’s fiscal year.
+Added: Recent Sales of Unregistered Securities
Securities Authorized for Issuance under Equity Compensation Plans
2 unchanged sentences
Options granted under both plans are exercisable at prices at least equal to the fair market value of such stock on the dates the options were granted and expire ten years after the date of grant.
−Removed: On August 10, 2018, options to purchase 5,000 shares of common stock were granted at an exercise price of $20.36 per share and on September 4, 2018, options to purchase 20,000 shares of common stock were granted at an exercise price of $22.30 per share.
−Removed: Both grants are exercisable as to 50% of the shares commencing on the date of grant and as to an additional 50% commencing on the first anniversary of the date of grant.
−Removed: Such options had an aggregate grant date fair value of $3.46 per share and $3.82 per share, respectively and totaled approximately $94,000.
+Added: During the year ended October 3, 2020, options to purchase 266,500 shares of common stock at an exercise price of $21.90 per share were granted to employees, directors of the Company and other service providers.
+Added: Such options are exercisable as to 50% of the shares commencing on the second anniversary of the date of grant and as to the remaining 50% commencing on the fourth anniversary of the date of grant.
+Added: The grant date fair value of these stock options was $3.35 per share.
During the year ended September 28, 2019, options to purchase 23,000 shares of common stock at an exercise price of $19.61 per share were granted to employees of the Company.
6 unchanged sentences
Accordingly, 11,774 shares were immediately repurchased and retired from treasury.
−Removed: During the year ended September 28, 2019, options to purchase 8,750 shares of common stock at a weighted average price of $18.76 per share expired unexercised or were forfeited.
−Removed: During the year ended September 29, 2018, options to purchase 26,050 shares of common stock at an exercise price of $18.60 per share expired unexercised.
−Removed: The following is a summary of the securities issued and authorized for issuance under our Stock Option Plans at September 28, 2019:
+Added: The following is a summary of the securities issued and authorized for issuance under our Stock Option Plans at October 3, 2020:
Plan Category (a) Number of
14 unchanged sentences
Total 626,500 $20.41 174,500
−Removed: Of the 363,500 options outstanding on September 28, 2019, 163,125 were held by the Company’s officers and directors.
+Added: Of the 626,500 options outstanding on October 3, 2020, 213,125 were held by the Company’s officers and directors.
(1) The Company has no equity compensation plans that were not approved by shareholders.
2 unchanged sentences
Stock Performance Graph
−Removed: The graph set forth below compares the yearly percentage change in cumulative total shareholder return on the Company’s Common Stock for the five-year period commencing September 27, 2014 and ending September 28, 2019 against the cumulative total return on the NASDAQ Market Index and a peer group comprised of those public companies whose business activities fall within the same standard industrial classification code as the Company.
−Removed: This graph assumes a $100 investment in the Company’s Common Stock and in each index on September 27, 2014 and that all dividends paid by companies included in each index were reinvested.
+Added: The graph set forth below compares the yearly percentage change in cumulative total shareholder return on the Company’s Common Stock for the five-year period commencing October 3, 2015 and ending October 3, 2020 against the cumulative total return on the NASDAQ Market Index and a peer group comprised of those public companies whose business activities fall within the same standard industrial classification code as the Company.
+Added: This graph assumes a $100 investment in the Company’s Common Stock and in each index on October 3, 2015 and that all dividends paid by companies included in each index were reinvested.
Cumulative Total Return
7 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.