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Note 11 - Treasury Stock and Retired Share Transactions | 9 Months Ended
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Sep. 28, 2024
Notes to Financial Statements |
Treasury Stock [Text Block] | 11. Treasury Stock and Retired Share Transactions On March 29, 2024, the Board authorized a program to repurchase shares of its common stock up to an amount not to exceed $50.0 million, inclusive of amounts remaining under the existing repurchase authorization. The program (the Treasury Stock Repurchase Plan) is designed to provide the Company with enhanced flexibility over the long term to optimize its capital structure. Shares of the Common Stock may be repurchased in the open market or through negotiated transactions. The program may be terminated or suspended at any time at the discretion of the Company. The Company may enter into a Rule 10b5-1 trading plan to effect a portion of the authorized purchases if the criteria set forth in the plan are met. Such a plan would enable the Company to repurchase its shares during periods outside of its normal trading windows when the Company typically would not be active in the market. On April 24, 2023, the Company agreed to repurchase, in a private transaction approved by the Board, 333,686 shares of common stock at a per-share price of $11.91 per share. During the thirty-nine weeks ended September 28, 2024, the Company purchased 407,653 shares at an average price of $19.09 per share. During the thirty-nine weeks ending September 30, 2023, the Company purchased 1,758,160 shares at an average price of $13.80 per share, including the aforementioned private transaction. As of September 28, 2024, the Company had $42.2 million available for future treasury stock purchases. The Company accrued $21 in excise tax associated with its Treasury Stock Repurchase Plan during the thirty-nine weeks ended September 28, 2024. The Company accrued $0.2 million in excise tax associated with its Treasury Stock Repurchase Plan during the thirty-nine weeks ended September 30, 2023. During the thirty-nine weeks ended September 28, 2024, the Company issued and retired 44,567 shares associated with equity grants that vested for Brad Vizi, the Company’s Chairman and CEO.

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- Definition The entire disclosure for treasury stock, including, but not limited to, average cost per share, description of share repurchase program, shares repurchased, shares held for each class of treasury stock. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/505-30/tableOfContent + Details
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