Note 5: Treasury Stock

On May 25, 2011, the Company’s Board of Directors authorized $35,000,000 for the repurchase of the Company’s common stock. On February 9, 2012, the Company’s Board of Directors authorized an additional $35,000,000 for the repurchase of the Company’s common stock. On February 15, 2013, the Company’s Board of Directors authorized an additional $35,000,000 for the repurchase of the Company’s common stock.

The Company repurchased 388,604 shares of its common stock for $21,211,000 during the nine months ended September 27, 2013. The Company repurchased 404,948 shares of its common stock for $19,437,000 during the nine months ended September 28, 2012. As of September 27, 2013, the Company had remaining authorization under its stock repurchase plans of $34,800,000 to repurchase shares of common stock.

The Company reissued 282,010 shares of its treasury stock with a cost of approximately $5,711,000 to settle restricted stock unit awards, stock options, dividends and purchases under the Employee Stock Purchase Plan during the nine months ended September 27, 2013. The Company reissued 292,316 shares of its treasury stock with a cost of $7,902,000 to settle restricted stock unit awards, stock options and purchases under the Employee Stock Purchase Plan during the nine months ended September 28, 2012.