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Share Repurchase Authorization

9 Months Ended

Sep. 26, 2020

NOTE 17. Share Repurchase Authorization

Following the Merger, the Company assumed the share repurchase authorization previously approved by the former Nanometrics Board of Directors. This share repurchase authorization allows for the Company to purchase up to $80,000 worth of shares of its common stock. Under the terms of this share repurchase authorization, shares may be repurchased through open market or privately negotiated transactions. Share repurchases during the nine months ended September 26, 2020 were made under this repurchase authorization and at September 26, 2020, there was $28,000 available for future share repurchases. During the nine months ended September 30, 2019, share repurchases were made under a legacy Rudolph share repurchase authorization which was terminated on October 25, 2019 due to closing of the Merger. See Note 2 for additional information regarding the Merger.

The following table summarizes the Company’s share repurchases for the periods indicated:

	Three Months Ended				Nine Months Ended
	September 26,		September 30,		September 26,		September 30,
	2020		2019		2020		2019
Shares of common stock repurchased		—		—		1,882		30
Cost of shares repurchased	$	—	$	—	$	52,000	$	744
Average price paid per share	$	—	$	—	$	27.62	$	24.68