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SHAREHOLDERS' EQUITY
 12 Months Ended
Dec. 25, 2022
Equity [Abstract]  
SHAREHOLDERS' EQUITY SHAREHOLDERS' EQUITY
Common stock
Shares of common stock outstanding include shares of unvested restricted stock. Unvested restricted stock included in reportable shares outstanding was 0.2 million and 0.5 million shares as of December 25, 2022 and December 26, 2021, respectively.
On October 16, 2019, our Board authorized a $100.0 million addition to our share repurchase program for our outstanding common stock (“2019 authorization”). On January 31, 2022, our Board authorized a $100.0 million addition to our share repurchase program for our outstanding common stock (“2022 authorization”). The share repurchase program does not obligate us to acquire any particular amount of common stock and does not have an expiration date. We may choose to purchase shares in the open market, from individual holders, through an accelerated share repurchase agreement or otherwise.
During fiscal 2021, we repurchased shares using $16.7 million under the 2019 authorization. During fiscal 2022, we repurchased shares using the remaining $50.0 million under the 2019 authorization. Under the 2019 authorization, we repurchased and retired a total of 4.7 million shares of our common stock over three fiscal years, at an average share price of $21.09, which excludes commissions. During fiscal 2022, we repurchased shares using $11.0 million under the 2022 authorization. As of December 25, 2022, $89.0 million remains available for repurchase of common stock under the 2022 authorization.
The details of shares repurchased in the open market as part of our existing share repurchase authorizations are as follows:
Fiscal yearNumber of shares repurchasedAverage price per share
Amount
(in thousands)
20222,234,006 $27.34 $60,939 
2021620,280 $26.90 $16,678 
Preferred stock
We have authorized 20.0 million shares of blank check preferred stock. The blank check preferred stock is issuable in one or more series, each with such designations, preferences, rights, qualifications, limitations and restrictions as our Board may determine and set forth in supplemental resolutions at the time of issuance, without further shareholder action. The initial series of blank check preferred stock authorized by the Board was designated as Series A Preferred Stock. We had no outstanding shares of preferred stock in any of the years presented.