Annual report pursuant to Section 13 and 15(d)

Stockholders' Equity

v3.3.1.900
Stockholders' Equity
 12 Months Ended
Dec. 27, 2015
Stockholders' Equity Note [Abstract]  
Stockholders' Equity
Stockholders’ Equity
On February 11, 2015, the Company’s board of directors authorized a repurchase of up to $50 million of the Company’s common stock. This authorization became effective on February 11, 2015, and will terminate upon completing the repurchase of $50 million of common stock unless earlier terminated by the Company’s board of directors. Purchases under the repurchase program may be made in open market or privately negotiated transactions. Purchases may be made from time to time at the Company’s discretion and the timing and amount of any share repurchases will be determined based on share price, market conditions, legal requirements and other factors. The repurchase program does not obligate the Company to acquire any particular amount of common stock, and it may be suspended or discontinued at any time. In 2015, the Company purchased 556,049 shares with an average purchase price of $71.93 per share for a total of $40.0 million.
On November 15, 2012, the Company’s board of directors authorized a repurchase of up to $50 million of the Company's common stock. In 2014, the Company purchased 463,780 shares with an average purchase price of $57.97 per share for a total of $26.9 million. In 2013, the Company purchased 68,816 shares, with an average purchase price of $72.71 per share for a total of $5.0 million.
On February 11, 2016, the Company’s board of directors authorized a repurchase of up to $100.0 million of the Company’s common stock. Refer to Note 20, Subsequent Events, for additional information.