Equity

3 Months Ended

Mar. 28, 2020

11.

Equity

Condensed Consolidated Statements of Changes in Equity

The changes in stockholders’ equity by component for the three months ended March 28, 2020 and March 30, 2019, are as follows (in thousands):


	Three Months Ended March 28, 2020
	Common Stock and Additional Paid-in Capital		Treasury Stock			Accumulated Other Comprehensive Income			Accumulated Deficit			Total Stockholders’ Equity
Balance at December 28, 2019	$	188,313	$	(29,158	)	$	424		$	(63,786	)	$	95,793
Common stock issued under employee plans		914		—			—			—			914
Equity-based compensation expense		672		—			—			—			672
Net loss		—		—			—			(1,224	)		(1,224	)
Other comprehensive loss		—		—			(93	)		—			(93	)
Common stock repurchases		—		(393	)		—			—			(393	)

Balance at March 28, 2020	$	189,899	$	(29,551	)	$	331		$	(65,010	)	$	95,669


	Three Months Ended March 30, 2019
	Common Stock and Additional Paid-in Capital		Treasury Stock			Accumulated Other Comprehensive Income		Accumulated Deficit			Total Stockholders’ Equity
Balance at December 29, 2018	$	183,227	$	(29,047	)	$	378	$	(64,934	)	$	89,624
Common stock issued under employee plans		993		—			—		—			993
Equity-based compensation expense		756		—			—		—			756
Net loss		—		—			—		(2,392	)		(2,392	)
Other comprehensive income		—		—			106		—			106

Balance at March 30, 2019	$	184,976	$	(29,047	)	$	484	$	(67,326	)	$	89,087

Accumulated Other Comprehensive Income

The changes in accumulated other comprehensive income by component for the three months ended March 30, 2019 and March 31, 2019, are as follows:


	Three Months Ended
	March 28, 2020								March 30, 2019
	Foreign currency			Unrealized holding gains (losses) on available- for-sale investments		Total			Foreign currency		Unrealized holding gains (losses) on available- for-sale investments			Total
	(In thousands)
Beginning balance	$	381		$	43	$	424		$	405	$	(27	)	$	378
Other comprehensive income (loss) before reclassification		(95	)		2		(93	)		61		45			106
Amounts reclassified from other comprehensive income (loss)		—			—		—			—		—			—

Net current-period other comprehensive income (loss)		(95	)		2		(93	)		61		45			106

Ending balance	$	286		$	45	$	331		$	466	$	18		$	484

Stock Repurchase Program

On November 21, 2013, Intevac’s Board of Directors approved a stock repurchase program authorizing up to $30.0 million in repurchases. On August 15, 201

, Intevac’s Board of Directors approved a $10.0 million increase to the original stock repurchase program for an aggregate authorized amount of up to $40.0 million. At March 28, 2020, $10.4 million remains available for future stock repurchases under the repurchase program.

The following table summarizes Intevac’s stock repurchases:


	Three Months Ended
	March 28, 2020		March 30, 2019
	(In thousands, except per share amounts)
Shares of common stock repurchased		98		—
Cost of stock repurchased	$	393	$	—
Average price paid per share share	$	3.97	$	—

Intevac records treasury stock purchases under the cost method using the

first-in,

first-out

(FIFO) method. Upon reissuance of treasury stock, amounts in excess of the acquisition cost are credited to additional

paid-in

capital. If Intevac reissues treasury stock at an amount below its acquisition cost and additional

paid-in

capital associated with prior treasury stock transactions is insufficient to cover the difference between the acquisition cost and the reissue price, this difference is recorded against accumulated deficit.