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Transactions with Related Parties
12 Months Ended
Dec. 28, 2018
Related Party Transactions [Abstract]  
Transactions with Related Parties

13. Transactions with Related Parties

     

During the year ended 2018, the Company repurchased 53 thousand shares of the Company’s stock from members of its Board of Directors and Chief Financial Officer for a total cost of $1.0 million or $18.33 per share. In addition, during 2018, the Company utilized 73 thousand tendered shares from the Company’s Chief Executive Officer, Chief Operating Officer and Chief Financial Officer to cover withholding taxes of $1.3 million on the February 2018 vesting of RSUs. During the year ended December 28, 2018, the Company bought back 59 thousand shares of its common stock from members of its Board of Directors for $1.2 million or $20.13 per share. Subsequent to year end, the Company repurchased 28 thousand shares of the Company’s stock from members of its Board of Directors and Executive team for a total cost of $0.5 million, or $16.25 per share.    The proceeds from the sale of these shares will be used primarily to cover estimated tax liabilities associated with previously vested restricted stock units.                   

On May 6, 2016, the Company’s Board of Directors approved the repurchase of 697 thousand shares of its common stock from the Company’s Chief Executive Officer, 732 thousand shares of its common stock from the Company’s Chief Operating Officer, and 73 thousand shares of its common stock from the Company’s Chief Financial Officer for a total of approximately 1.5 million shares at a purchase price of $14.77 per share. The transaction was approved by the Audit Committee of the Board of Directors which is comprised solely of independent directors and was affected as part of the Company’s share repurchase program. See Note 11 for further details.