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Issuer Purchases of Equity Securities
−Removed: The following table summarizes the repurchases of the Company’s common stock during the three months ended January 1, 2022:
−Removed: In thousands, except per share amounts
−Removed: Period Total Number of Shares Purchased (1)
−Removed: Average Price Paid per Share (1)
−Removed: Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (1)
−Removed: Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs (1)
−Removed: October 3, 2021 - October 30, 2021 — — — —
−Removed: October 31, 2021 - December 4, 2021 1,425 $ 49.04 1,425 $ 30,060
−Removed: December 5, 2021 - January 1, 2022 — — — —
−Removed: Total 1,425 $ 49.04 1,425 $ 30,060
−Removed: (1) See above for information about the Company’s share repurchases, as well as Note 1.“Business and Significant Accounting Policies”, in the consolidated financial statements included in Part II.
−Removed: of this Form 10-K.
+Added: During the quarter ended December 31, 2022, we did not purchase any of our equity securities that are registered under Section 12(b) of the Exchange Act.
Effective November 8, 2021, the Company's Board of Directors authorized the Company to repurchase up to $50 million aggregate amount of shares of the Company's common stock.
−Removed: On November 29, 2021, the Company’s Board of Directors authorized a share repurchase program up to $100 million in aggregate amount of shares of the Company’s common stock that may be repurchased under the Company’s current share repurchase program.
−Removed: Shares may be repurchased under the program through December 30, 2023.
+Added: On November 29, 2021, the Company’s Board of Directors authorized an increase from $50 million to $100 million in aggregate amount of shares of the Company’s common stock that may be repurchased under the Company’s current share repurchase program.
On February 23, 2022, our Board of Directors authorized a $100 million increase to the share repurchase authorization, for a total authorization of $200 million.
−Removed: Following repurchases in fiscal year 2021, $130 million remains available under the share repurchase authorization.
−Removed: The timing and amounts of any such repurchases will depend on a variety of factors, including the market price of the Company’s shares and general market and economic conditions.
+Added: Repurchases may be made from time to time in the Company’s discretion through one or more open market or privately negotiated transactions, and pursuant to pre-set trading plans meeting the requirements of all applicable securities laws and regulations.
+Added: Shares may be repurchased under the program through December 30, 2023.
+Added: The timing and amounts of any such repurchases will depend on a variety of factors, including the market price of the Company’s shares, general market and economic conditions, legal requirements and tax implications.
+Added: The Company expects to fund the share repurchases using cash on hand.
+Added: During fiscal years 2022 and 2021, the Company repurchased 2.7 million shares of its common stock for $80.0 million, and 1.4 million shares of its common stock for $69.9 million, respectively, under the share repurchase program.
+Added: After these repurchases, approximately $50 million remains available under the share repurchase authorization as of December 31, 2022.
We have not paid dividends in the past and have no current plans to pay dividends on our common stock.
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This performance graph shall not be deemed “soliciting material” or “filed” with the SEC for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities under that Section, and shall not be deemed to be incorporated by reference into any of our filings under the Securities Act or the Exchange Act.
−Removed: The graph below presents the Company’s cumulative total stockholder returns relative to the performance of the NASDAQ Global Composite Index and the NASDAQ US Benchmark Retail Index commencing October 26, 2017 (the Company’s initial day of trading) through January 1, 2022.
+Added: The graph below presents the Company’s cumulative total stockholder returns relative to the performance of the Nasdaq Global Composite Index and the Nasdaq US Benchmark Retail Index commencing December 29, 2017 through December 31, 2022.
All values assume a $100 initial investment at the opening price of the Company’s common stock on Nasdaq and data for the Nasdaq Global Composite Index and the Nasdaq US Benchmark Retail Index assumes all dividends were reinvested on the date paid.
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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.