3 unchanged sentences
On October 26, 2022, our Board increased the authorization to repurchase our common stock by 5.0 million shares to 61.0 million shares.
−Removed: Under this authorization, we have cumulatively repurchased 56.5 million shares at a total cost of $1,811.7 million, excluding the excise tax, through January 2, 2024 with 0.3 million shares repurchased at a cost of $9.8 million, excluding the excise tax, during the fourth quarter of fiscal 2023.
+Added: Under this authorization, we have cumulatively repurchased 57.1 million shares at a total cost of $1,829.7 million, excluding the excise tax, through December 31, 2024 with 11,838 shares repurchased at a cost of $0.5 million, excluding the excise tax, during the fourth quarter of fiscal 2024.
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.
The timing and number of shares repurchased are subject to legal constraints and financial covenants under our Loan Agreement 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 January 2, 2024 (in thousands, except per share data):
+Added: The following table presents our purchases of our common stock during the fiscal quarter ended December 31, 2024 (in thousands, except per share data):
Total Number of Shares
10 unchanged sentences
November 6 — December 3, 2024
−Removed: December 6, 2023 — January 2, 2024
+Added: December 4 — December 31, 2024
(1) The total number of shares purchased includes 11,838 shares withheld upon vesting of restricted share awards to satisfy tax withholding obligations.
(2) The dollar value of shares repurchased excludes excise tax due under the Inflation Reduction Act of 2022.
−Removed: 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, our Board declared a quarterly dividend in the second quarter of fiscal 2022 and has declared quarterly dividends since then.
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 operating performance, financial condition, capital expenditure requirements, limitations on cash distributions pursuant to the terms and conditions of the Loan Agreement and applicable law, and such other factors that the Board considers relevant.
(See Item 1A — Risk Factors — “Our stock price could be adversely affected if we are unable to pay or increase dividends.”)
−Removed: During the fiscal quarter ended January 2, 2024, no director or officer of the Company adopted or terminated a “Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement” (in each case, as defined in Item 408 of Regulation S-K).
+Added: During the fiscal quarter ended December 31, 2024, no director or officer of the Company adopted or terminated a “Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement” (in each case, as defined in Item 408 of Regulation S-K).
Price Performance Graph
13 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.