2 unchanged sentences
There were approximately 1,450 holders of record of our common stock at February 14, 2023, and we estimate there were approximately 156,700 beneficial stockholders on that date.
−Removed: Under authorization by our Board to repurchase up to 56.0 million shares of our common stock, we have cumulatively repurchased 53.1 million shares at a total cost of $1,702.5 million through December 28, 2021 with 13,098 shares repurchased at a cost of $0.5 million during the fourth quarter of fiscal 2021 to satisfy tax withholding obligations on vested restricted share awards.
−Removed: Our share repurchase authorization does not have an expiration date, does not require us to purchase a specific number of shares and may be modified, suspended or terminated at any time.
−Removed: To preserve liquidity during the COVID-19 pandemic and in conjunction with the terms of our credit facility, in March 2020, our Board suspended share repurchases.
−Removed: Our Board is actively evaluating share repurchase strategies for fiscal 2022.
−Removed: The timing and number of shares repurchased are also subject to legal constraints and financial covenants under our credit facility that limit share repurchases based on a defined ratio.
−Removed: The following table presents our purchases of our common stock during the fiscal quarter ended December 28, 2021:
+Added: On October 26, 2022, our Board increased the authorization to repurchase our common stock by 5.0 million shares to 61.0 million shares.
+Added: Under this authorization, we have cumulatively repurchased 55.1 million shares at a total cost of $1,765.6 million through January 3, 2023 with 0.7 million shares repurchased at a cost of $21.6 million during the fourth quarter of fiscal 2022.
+Added: Our share repurchase program does not have an expiration date, does not require us to purchase a specific number of shares and may be modified, suspended or terminated at any time.
+Added: The timing and number of shares repurchased are subject to legal constraints and financial covenants under our credit facility that limit share repurchases based on a defined ratio.
+Added: The following table presents our purchases of our common stock during the fiscal quarter ended January 3, 2023 (in thousands, except per share data):
Total Number of Shares
9 unchanged sentences
November 2 — November 29, 2022
−Removed: December 1 — December 28, 2021
+Added: November 30 — January 3, 2023
(1) The total number of shares purchased includes 14,607 shares withheld upon vesting of restricted share awards to satisfy tax withholding obligations.
−Removed: To preserve liquidity during the COVID-19 pandemic and in conjunction with the terms of our credit facility, in March 2020, our Board suspended the quarterly dividend on our common stock.
−Removed: Future decisions to pay or to increase or decrease dividends are at the discretion of the Board and will be dependent on our operating performance, financial condition, capital expenditure requirements, limitations on cash distributions pursuant to the terms and conditions of our credit facility and applicable law, and such other factors that the Board considers relevant.
−Removed: Our Board is considering the reinstatement of our dividend program in fiscal 2022.
−Removed: However, the decision to reinstate the dividend as well as the amount of any dividend have yet to be determined.
−Removed: (See Item 1A — Risk Factors — “ Our stock price could be adversely affected if we continue to be unable to pay dividends or, if paid, if we are unable to increase dividends.”)
−Removed: (See Note 12 of Notes to Consolidated Financial Statements in Part IV, Item 15 of this report for further discussion of our credit facility.)
+Added: Our Board declared a quarterly dividend in the second quarter of fiscal 2022 and has declared quarterly dividends since then, following the suspension that began in fiscal 2020 due to the impact of COVID-19 on our business and in conjunction with the terms of our Loan Agreement.
+Added: Future decisions to pay or to increase or decrease dividends or to repurchase shares are at the discretion of the Board and will be dependent on a number of factors, including limitations pursuant to the terms and conditions of the Loan Agreement and applicable law.
+Added: (See Item 1A – Risk Factors – “Our stock price could be adversely affected if we are unable to pay or increase dividends.”)
Price Performance Graph
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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.