LA-Z-BOY INC 10-Q

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS Our board of directors has authorized the repurchase of Company stock. Repurchases under these programs will be made at management's discretion from time to time on the open market or in privately negotiated transactions and through Rule 10b5-1. We spent $12.5 million in the first quarter of fiscal 2026 to repurchase 0.3 million shares, pursuant to a Rule 10b5-1 plan. As of July 26, 2025, 3.4 million shares remained available for repurchase pursuant to the board authorization. The following table summarizes our repurchases of Company stock during the quarter ended July 26, 2025 and includes shares purchased from employees to satisfy their withholding tax obligations upon vesting of restricted shares: (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 Fiscal May (April 27 – May 31, 2025) 300 $ 41.67 300 3,399 Fiscal June (June 1 – Jun 28, 2025) 153 $ 38.09 — 3,399 Fiscal July (June 29 – July 26, 2025) 1 $ 37.36 — 3,399 Total (Fiscal First Quarter of 2026) 454 300 3,399 (1) In addition to the 300,000 shares we repurchased during the quarter as part of our publicly announced, board-authorized plan described above, this column includes 153,836 shares we repurchased from employees to satisfy their withholding tax obligations upon vesting of restricted and performance based shares. (2) On October 28, 1987, our board of directors announced the authorization of the plan to repurchase Company stock. The plan originally authorized 1.0 million shares, and since October 1987, 33.5 million shares have been added to the plan for repurchase. The authorization has no expiration date.