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Our board of directors has authorized the repurchase of company stock.
−Removed: During the fourth quarter of fiscal 2021, pursuant to the existing board authorization, we adopted a plan to repurchase company stock pursuant to Rule 10b5-1 of the Securities Exchange Act of 1934.
−Removed: The plan was effective April 2 6, 2021.
+Added: With respect to the third quarter of fiscal 2022, pursuant to the existing board authorization, we adopted a plan to repurchase company stock pursuant to Rule 10b5-1 of the Securities Exchange Act of 1934.
+Added: The plan was effective October 25 , 2021.
Under this plan, our broker has the authority to repurchase company shares on our behalf, subject to SEC regulations and the price, market volume and timing constraints specified in the plan.
The plan expires at the close of business on November 26, 2021.
−Removed: We spent $15.0 million in the second quarter of fiscal 2022 to repurchase 0.4 million shares.
−Removed: As of October 23, 2021, 8.6 million shares remained available for repurchase pursuant to this authorization.
+Added: We spent $25.0 million in the third quarter of fiscal 2022 to repurchase 0.7 million shares, pursuant to the plan and discretionary purchases.
+Added: As of January 22, 2022, 7.9 million shares remained available for repurchase pursuant to the board authorization.
With the operating cash flows we anticipate generating in fiscal 2022, we expect to continue repurchasing company stock.
−Removed: The following table summarizes our repurchases of company stock during the quarter ended October 23, 2021:
+Added: The following table summarizes our repurchases of company stock during the quarter ended January 22, 2022:
(Unaudited, amounts in thousands, except per share data) Total number of
shares repurchased (1) Average price paid per share Total number of shares repurchased as part of publicly announced plan (2) Maximum number of shares that may yet be repurchased under the plan
−Removed: Fiscal August (July 25 – August 28, 2021) 434 $ 34.52 434 8,592
−Removed: Fiscal September (August 29 – September 25, 2021) — — — 8,592
−Removed: Fiscal October (September 26 – October 23, 2021) — — — 8,592
−Removed: Fiscal Second Quarter of 2022 434 $ 34.52 434 8,592
+Added: Fiscal November (October 24 – November 27, 2021) 424 $ 35.41 424 8,168
+Added: Fiscal December (November 28 – December 25, 2021) 279 35.80 279 7,889
+Added: Fiscal January (December 26 – January 22, 2022) — 36.10 — 7,889
+Added: Fiscal Third Quarter of 2022 703 $ 35.56 703 7,889
(1) In addition to the 702,713 shares we repurchased during the quarter as part of our publicly announced, board-authorized plan described above, this column includes 330 shares repurchased from employees to satisfy their withholding tax obligations upon vesting of restricted and performance based shares.
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Number Description
−Removed: (4.1) Credit Agreement dated as of October 15, 2021, among La-Z-Boy Incorporated, the lenders party thereto and Wells Fargo Bank, National Association, as administrative agent (Incorporated by reference to an exhibit to Form 8-K filed October 15, 2021).
(31.1) Certifications of Chief Executive Officer pursuant to Rule 13a-14(a)
8 unchanged sentences
(101.DEF) Inline XBRL Taxonomy Extension Definition Linkbase Document
−Removed: (104) The cover page from the Company’s Quarterly Report on Form 10-Q for the quarter ended October 23, 2021, formatted in Inline XBRL (included in Exhibit 101)
+Added: (104) The cover page from the Company’s Quarterly Report on Form 10-Q for the quarter ended January 22, 2022, formatted in Inline XBRL (included in Exhibit 101)
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
LA-Z-BOY INCORPORATED
−Removed: November 16, 2021
+Added: February 15, 2022
/s/ Jennifer L.
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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.