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SHAREHOLDERS' EQUITY | 12 Months Ended
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Dec. 29, 2024
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 8.2 thousand and 69.0 thousand shares as of December 29, 2024 and December 31, 2023, 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. Under the 2019 authorization, we repurchased shares using the remaining $50.0 million during fiscal 2022. The 2019 authorization was fully utilized as of April 2022. 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. Under the 2022 authorization, we repurchased shares, excluding excise tax, using $21.1 million, $33.9 million and $11.0 million during fiscal 2024, 2023, and 2022, respectively. The details of shares repurchased in the open market as part of the authorizations described above are as follows:
|  |  | Shares repurchased (in thousands)
|  |  | Year ended
Authorization | Amount authorized (in millions) | Remaining available (in millions) | 2024 | 2023 | 2022
2019 Authorization | $ | 100.0 |  | $ | — |  | — |  | — |  | 1,800 |
2022 Authorization | $ | 100.0 |  | $ | 33.5 |  | 1,967 |  | 1,877 |  | 434 |
|  |  | 1,967 | 1,877 | 2,234
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.

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