Stock Repurchase Program (Notes)

6 Months Ended

Jun. 29, 2019

17. Stock Repurchase Program

In September 2015, the Company’s Board of Directors (Board) authorized a stock repurchase program, whereby the Company could purchase up to 5.0 million shares of its common stock over a period of up to three years (2015 Repurchase Program). A total of 3.1 million shares were purchased by the Company pursuant to the 2015 Repurchase Program prior to its expiration in September 2018.

In July 2018, the Board approved a new stock repurchase program, authorizing the Company to purchase up to 5.0 million additional shares of its common stock over a period of up to three years (2018 Repurchase Program). As of June 29, 2019, 4.8 million shares remained available for repurchase pursuant the 2018 Repurchase Program.

The following table provides a summary of the Company’s stock repurchase activities during the three and six months ended June 29, 2019 and June 30, 2018 (in thousands, except per share amounts):



	Three Months Ended				Six Months Ended
	June 29, 2019		June 30, 2018		June 29, 2019		June 30, 2018
Shares repurchased⁽¹⁾	208		—		208		196
Average cost per share	$	134.03	$	—	$	134.03	$	84.14
Value of shares repurchased	$	27,854	$	—	$	27,854	$	16,490

______________

⁽¹⁾

Excludes shares withheld from the shares of its common stock actually issued in connection the vesting of PSU awards to satisfy certain U.S. federal and state tax withholding obligations.