10 unchanged sentences
$ 100.00 $ 99.39 $ 147.18 $ 134.08 $ 188.11 $ 171.47
−Removed: (1) The S&P Restaurants Index is comprised of Chipotle Mexican Grill, Inc., Darden Restaurants, Inc., McDonald’s Corp., Domino’s Pizza Inc., Starbucks Corporation and Yum!
+Added: (1) The S&P Restaurants Index is comprised of Chipotle Mexican Grill, Inc., Darden Restaurants, Inc., Domino’s Pizza Inc., McDonald’s Corp., Starbucks Corp., and Yum!
Dividend Program
In the fourth quarter of fiscal 2020, our Board of Directors voted to suspend the quarterly cash dividend due to uncertainty surrounding the duration of closures of our dining rooms and other restrictions mandated by state and local governments in response to the COVID-19 pandemic.
−Removed: Additionally, under the terms of our revolving credit facility, we were prohibited from making dividends, stock repurchases and investments from the fourth quarter of fiscal 2020 through the third quarter of fiscal 2021, and following this period, we were subject to a $50.0 million aggregate limitation on dividends, stock repurchases and investments.
Future decisions to reinstate the dividend program to pay, or to increase or decrease dividends, are at the discretion of the Board of Directors 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 revolving credit facility and applicable law, and such other factors that the Board of Directors considers relevant.
3 unchanged sentences
In the fourth quarter of fiscal 2020, our share repurchase program was suspended in response to the business downturn caused by the COVID-19 pandemic.
−Removed: Additionally, the amended revolving credit facility restricted our ability to repurchase shares in fiscal 2021 through the third quarter of fiscal 2021.
−Removed: Following the expiration of these restrictions under our amended revolving credit facility, we did not repurchase any shares under publicly announced share repurchase programs for the remainder of fiscal 2021.
−Removed: Future decisions to repurchase shares will be dependent on our operating performance, financial condition and other such factors that we consider relevant.
−Removed: We repurchased a limited number of shares related to shares owned and tendered by team members to satisfy tax withholding obligations on the vesting of restricted share awards.
−Removed: These purchases are not deducted from shares available to be purchased under publicly announced programs.
−Removed: Amounts are presented in millions, except per share amounts, unless otherwise noted:
+Added: In August 2021, our Board of Directors reinstated the share repurchase program, allowing for a total available repurchase authority of $300 million.
+Added: During the thirteen week period ended June 29, 2022 , we repurchased shares as follows ( in millions, except per share amounts, unless otherwise noted):
Purchased (1)
3 unchanged sentences
Under the Program (2)
−Removed: March 25, 2021 through April 28, 2021 — $ — — $ 166.8
−Removed: April 29, 2021 through May 26, 2021 0.0 $ 66.39 — $ 166.8
+Added: March 31, 2022 through May 4, 2022 — $ — — $ 204.0
May 5, 2022 through June 1, 2022 0.0 $ 38.83 — $ 204.0
+Added: June 2, 2022 through June 29, 2022 — $ — — $ 204.0
Total 0.0 $ 38.83 —
−Removed: (1) Shares owned and tendered by team members to satisfy tax withholding obligations were purchased at the average of the high and low prices of the Company’s shares on the date of vesting.
+Added: (1) These amounts include shares purchased as part of our publicly announced programs and shares owned and tendered by team members to satisfy tax withholding obligations on the vesting of restricted share awards, which are not deducted from shares available to be purchased under publicly announced programs.
+Added: Unless otherwise indicated, shares owned and tendered by team members to satisfy tax withholding obligations were purchased at the average of the high and low prices of the Company’s shares on the date of vesting.
In the fourth quarter of fiscal 2022, 563 shares were tendered by team members at an average price of $38.83.
−Removed: (2) Subsequent to fiscal 2021 year-end, our Board of Directors reinstated the share repurchase program, allowing for a total available repurchase authority of $300 million.
−Removed: Removed and Reserved.
+Added: (2) The final amount shown is as of June 29, 2022.
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.