1 unchanged sentence
The Company’s common stock is listed on the Capital Market of the NASDAQ Stock Market, LLC (“NASDAQ”) under the symbol “RAVE”.
−Removed: September 16, 2022, there were approximately 1,891 stockholders of record of the Company’s common stock.
+Added: As of September 18, 2023, there were
+Added: approximately 1,888 stockholders of record of the Company’s common stock.
The Company had no sales of unregistered securities during fiscal 2023 or 2022.
The Company did not pay any dividends on its common stock during the fiscal years ended June 25, 2023 or June 26, 2022.
−Removed: Any determination
−Removed: to pay cash dividends in the future will be at the discretion of the Company’s board of directors and will be dependent upon the Company’s results of operations, financial condition, capital requirements, contractual restrictions and other factors
−Removed: deemed relevant.
−Removed: Currently, there is no intention to pay any dividends on our common stock.
+Added: Any determination to pay cash dividends in the future
+Added: will be at the discretion of the Company’s board of directors and will be dependent upon the Company’s results of operations, financial condition, capital requirements, contractual restrictions, and other factors deemed relevant.
+Added: there is no intention to pay any dividends on our common stock.
2007 Stock Purchase Plan
−Removed: On May 23, 2007, the Company’s board of directors approved a stock purchase plan (the “2007 Stock Purchase Plan”) authorizing the purchase on our behalf of up to 1,016,000 shares of
−Removed: our common stock in the open market or in privately negotiated transactions.
−Removed: On June 2, 2008, the Company’s board of directors amended the 2007 Stock Purchase Plan to increase the number of shares of common stock the Company may repurchase by
+Added: On May 23, 2007, the Company’s board of directors approved a stock purchase plan (the “2007 Stock Purchase Plan”) authorizing the purchase on our behalf of up to 1,016,000
+Added: shares of our common stock in the open market or in privately negotiated transactions.
+Added: On June 2, 2008, the Company’s board of directors amended the 2007 Stock Purchase Plan to increase the number of shares of common stock the Company may
+Added: repurchase by 1,000,000 shares to a total of 2,016,000 shares.
+Added: On April 22, 2009, the Company’s board of directors amended the 2007 Stock Purchase Plan again to increase the number of shares of common stock the Company may repurchase by 1,000,000
shares to a total of 3,016,000 shares.
−Removed: On April 22, 2009 the Company’s board of directors amended the 2007 Stock Purchase Plan again to increase the number of shares of common stock the Company may repurchase by 1,000,000 shares to a
−Removed: total of 3,016,000 shares.
−Removed: The following table furnishes information for purchases made pursuant to the 2007 Stock Purchase Plan during the fourth quarter of fiscal 2022:
+Added: On June 28, 2022, the Company’s board of directors amended the 2007 Stock Purchase Plan again to increase the number of shares of common stock the Company may repurchase by 5,000,000 shares to a total of
+Added: 8,016,000 shares.
+Added: The 2007 Stock Purchase Plan does not have an expiration date.
+Added: The following table furnishes information for purchases made pursuant to the 2007 Stock Purchase Plan during fiscal 2023:
Average Price
8 unchanged sentences
Under the Plan
−Removed: 03/28/2022 - 04/24/2022
−Removed: 04/25/2022 - 05/29/2022
−Removed: 05/30/2022 - 06/26/2022
−Removed: On June 28, 2022, the Company’s board of directors amended the 2007 Stock Purchase Plan again to increase the number of shares of common stock the Company may repurchase by 5,000,000 shares to a
−Removed: total of 8,016,000 shares .
−Removed: The 2007 Stock Purchase Plan does not have an expiration date.
−Removed: The Company’s ability to purchase shares of our common stock is subject to various laws, regulations and policies as well as the rules and
−Removed: regulations of the Securities and Exchange Commission (the “SEC”).
−Removed: Subsequent to June 26, 2022, the Company has repurchased 1,110,891 outstanding shares for $1.4 million and may make further purchases under the 2007 Stock Purchase Plan.
−Removed: Company may also purchase shares of our common stock other than pursuant to the 2007 Stock Purchase Plan or other publicly announced plans or programs.
+Added: June 27, 2022 - July 31, 2022
+Added: August 1, 2022 - August 28, 2022
+Added: August 29, 2022 - September 25, 2022
+Added: September 26, 2022 - October 30, 2022
+Added: October 31, 2022 - November 27, 2022
+Added: November 28, 2022 - December 25, 2022
+Added: December 26, 2022 - January 29, 2023
+Added: January 30, 2023 - February 26, 2023
+Added: February 27, 2023 - March 26, 2023
+Added: March 27, 2023 - April 30, 2023
+Added: May 1, 2023 - May 28, 2023
+Added: May 29, 2023 - June 25, 2023
+Added: The Company’s ability to purchase shares of our common stock is subject to various laws, regulations, and policies as well as the rules and regulations of the Securities and
+Added: Exchange Commission (the “SEC”).
+Added: The Company may also purchase shares of our common stock other than pursuant to the 2007 Stock Purchase Plan or other publicly announced plans or programs.
+Added: On December 21, 2022, the Company entered into a Stock Purchase Agreement with Hallmark Financial Services, Inc.
+Added: (“Hallmark”) pursuant to which the Company purchased from
+Added: certain direct or indirect subsidiaries of Hallmark an aggregate of 2,246,086 shares of the Company’s common stock at a price of $1.60 per share, resulting in an aggregate purchase price of $3,593,738.
+Added: The price per share represented the average
+Added: closing price of the Company’s common stock on the Nasdaq Capital Market for the preceding 15 trading days.
+Added: The transaction was approved by the Audit Committee of the Company, which consists of all of the independent directors of the Company.
+Added: The Chairman of the Company, Mark E.
+Added: Schwarz, who is also the Executive Chairman of Hallmark, recused himself from all deliberations with respect to the Stock Purchase Agreement with Hallmark.
Equity Compensation Plan Information
15 unchanged sentences
Stock option compensation plans not approved by security holders
−Removed: Securities remaining available for future issuance under the 2015 Long Term Incentive Program are net of a maximum of 1,328,531 shares of common stock issuable pursuant to outstanding restricted stock units, subject to applicable vesting
−Removed: requirements and performance criteria.
+Added: Securities remaining available for future issuance under the 2015 Long Term Incentive Program are net of a maximum of 1,328,531 shares of common stock issuable pursuant to outstanding restricted stock units, subject to applicable
+Added: vesting requirements and performance criteria.
See Note I to the audited consolidated financial statements included in this report.
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.