Stock Repurchase Program

9 Months Ended

Sep. 30, 2017

In September 2015, the Company’s Board of Directors (Board) authorized a stock repurchase program, whereby the Company may purchase up to 5.0 million shares of its common stock over a period of up to three years (2015 Repurchase Program). The 2015 Repurchase Program may be carried out at the discretion of a committee comprised of the Company’s Chief Executive Officer and Chief Financial Officer through open market purchases, one or more Rule 10b5-1 trading plans, block trades and privately negotiated transactions. The total remaining shares authorized for repurchase under the 2015 Repurchase Program approximated 2.4 million shares as of September 30, 2017. The Company expects to fund the 2015 Repurchase Program through its available cash, future cash from operations, funds available under the Restated Credit Facility or other potential sources of capital.

The following table provides a summary of the Company’s stock repurchase activities during the three and nine months ended September 30, 2017 and October 1, 2016 (in thousands, except per share amounts):



	Three Months Ended				Nine Months Ended
	September 30, 2017		October 1, 2016		September 30, 2017		October 1, 2016
Shares repurchased	533		—		533		1,496
Average cost per share	$	84.86	$	—	$	84.86	$	42.39
Value of shares repurchased	$	45,261	$	—	$	45,261	$	63,403