3 unchanged sentences
This number excludes stockholders whose stock is held in nominee or street name by brokers.
+Added: Dividends on Common Stock
+Added: On February 20, 2024, the Company’s board of directors declared a quarterly dividend of $0.22 per share of common stock, to be paid on March 29, 2024 to stockholders of record as of March 8, 2024, totaling approximately $6.5 million.
+Added: We evaluate dividend payments on common stock within the context of our overall capital allocation strategy with our board of directors on an ongoing basis, giving consideration to a number of factors including our current and forecasted earnings, financial condition, the general economic and regulatory environment, cash requirements, cash surplus, legal requirements or limitations, and other factors.
+Added: There can be no assurance that we will continue to pay such dividends or as to the amount of any such dividends if paid.
Recent Sales of Unregistered Securities
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Issuer Purchases of Equity Securities
−Removed: We did not repurchase any of our equity securities during the fourth quarter of the fiscal year ended December 31, 2022.
+Added: The following table sets forth information on our share repurchases of our common stock during the fourth quarter of 2023:
+Added: Period Total Number of Shares Purchased (1)
+Added: Average Price Paid Per Share (1)
+Added: Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (2)
+Added: Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs (2)
+Added: October 1, 2023 - October 28, 2023 — $ — — $ —
+Added: October 29, 2023 - November 25, 2023 — — — —
+Added: November 26, 2023 - December 30, 2023 78,801 $ 193.51 78,801 125,000,000
+Added: Total 78,801 $ 193.51 78,801 $ 125,000,000
+Added: (1) On August 23, 2023, the Company entered into an accelerated share repurchase agreement (the “ASR Agreement”) with a third-party financial institution to repurchase $125.0 million of the Company’s common stock.
+Added: Pursuant to the terms of the ASR Agreement, the Company paid the financial institution $125.0 million and, on August 25, 2023, the Company received and retired 567,151 shares of its common stock.
+Added: Final settlement of the ASR Agreement occurred on December 21, 2023, and the Company received and retired an additional 78,801 shares of common stock.
+Added: In connection with the ASR Agreement, the Company received and retired a total of 645,952 shares of common stock at an average share price of $193.51.
+Added: The total number of shares repurchased under the ASR Agreement was based on a daily volume-weighted average share price during the valuation period specified in the ASR Agreement, less a discount and subject to adjustments.
+Added: (2) On August 16, 2023, the Company’s Board of Directors approved a new share repurchase program with authorization to purchase up to $250.0 million of its outstanding shares of common stock (the “Share Repurchase Authorization”).
+Added: As of December 30, 2023, $125.0 million remained available under the Share Repurchase Authorization.
Performance Graph
−Removed: The following performance graph compares the dollar change in the cumulative stockholder return on our common stock with the cumulative total returns of the NASDAQ Composite Index, the Standard & Poor’s 600 Restaurants Index (the “S&P 600 Restaurant Index”) and the Standard & Poor’s 400 Restaurant Index (the “S&P 400 Restaurant Index”).
−Removed: During 2022, the Company decided to change its peer group comparison from the S&P 600 Restaurant Index to the S&P 400 Restaurant Index as the Company believes that the companies included in the S&P 400 Restaurant Index more appropriately reflect the scope of the Company’s operations and match the competitive market in which the Company operates.
+Added: The following performance graph compares the dollar change in the cumulative stockholder return on our common stock with the cumulative total returns of the NASDAQ Composite Index and the Standard & Poor’s 400 Restaurant Index (the “S&P 400 Restaurant Index”).
This graph assumes a $100 investment in our common stock and in each of the foregoing indices on December 29, 2018, and assumes the reinvestment of dividends, if any.
2 unchanged sentences
This graph is “furnished” and not “filed” with the SEC and it is not “soliciting material,” and should not be incorporated by reference in any of our filings under the Securities Act or the Exchange Act, whether made before or after the date hereof and irrespective of any general incorporation language in such filing.
−Removed: Dividends on Common Stock
−Removed: Please refer to “Note 3 - Dividends” of the Notes to the Consolidated Financial Statements for information on dividends declared and paid in the fiscal years ended December 31, 2022 and December 25, 2021.
−Removed: On February 21, 2023, the Company’s board of directors declared a quarterly dividend of $0.19 per share of common stock, to be paid on March 31, 2023 to stockholders of record as of March 10, 2023, totaling approximately $5.7 million.
−Removed: We evaluate dividend payments on common stock within the context of our overall capital allocation strategy with our board of directors on an ongoing basis, giving consideration to a number of factors including our current and forecast earnings, financial condition, the general economic and regulatory environment, cash requirements, cash surplus and other factors.
−Removed: There can be no assurance that we will continue to pay such dividends or the amount of such dividends.
+Added: Not applicable.
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.