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Stockholders' Equity
12 Months Ended
Dec. 30, 2014
Stock Repurchase Program  
Stockholders' Equity

 

(10) Stockholders' Equity

        On May 22, 2014, our Board of Directors approved a stock repurchase program under which we may repurchase up to $100.0 million of our common stock. This stock repurchase program has no expiration date and replaced a previous stock repurchase program which was approved on February 16, 2012. The previous program authorized us to repurchase up to $100.0 million of our common stock. All repurchases to date under our stock repurchase program have been made through open market transactions. The timing and the amount of any repurchases will be determined by management under parameters established by our Board of Directors, based on its evaluation of our stock price, market conditions and other corporate considerations.

        For the years ended December 30, 2014, December 31, 2013 and December 25, 2012, we paid approximately $42.7 million, $12.8 million and $29.4 million to repurchase 1,675,000, 461,600 and 1,786,855 shares of our common stock, respectively.

        On November 26, 2014, we issued 40,699 shares of our common stock in exchange for the remaining ownership interests in a franchise restaurant in which we previously owned 5%. See note 3 for further discussion.