Shareholders' Equity

3 Months Ended

Sep. 29, 2019

14. Shareholders’ Equity

Shareholders’ equity for the three months ended September 29, 2019 was as follows:

	Shares		Common Stock		Capital in Excess of Par Value			Retained Earnings		Accumulated Other Comprehensive Loss			Total Shareholders’ Equity
Balance at June 30, 2019		18,462	$	1,846	$	59,560		$	374,668	$	(43,229	)	$	392,845
Options exercised		10		1		28			—		—			29
Conversion of restricted stock units		18		2		(2	)		—		—			—
Stock-based compensation		—		—		121			—		—			121
Common stock withheld in satisfaction of tax withholding obligations under net share settle transactions		—		—		(44	)		—		—			(44	)
Other comprehensive loss, net of tax		—		—		—			—		(6,656	)		(6,656	)
Net income		—		—		—			3,712		—			3,712
Balance at September 29, 2019		18,490	$	1,849	$	59,663		$	378,380	$	(49,885	)	$	390,007

Shareholders’ equity for the three months ended September 30, 2018 was as follows:

	Shares			Common Stock		Capital in Excess of Par Value			Retained Earnings		Accumulated Other Comprehensive Loss			Total Shareholders’ Equity
Balance at June 24, 2018		18,353		$	1,835	$	56,726		$	371,753	$	(40,533	)	$	389,781
Options exercised		16			2		242			—		—			244
Conversion of restricted stock units		14			1		(1	)		—		—			—
Stock-based compensation		1			—		872			—		—			872
Common stock withheld in satisfaction of tax withholding obligations under net share settle transactions		(4	)		—		(133	)		—		—			(133	)
Other comprehensive loss, net of tax		—			—		—			—		(2,922	)		(2,922	)
Adoption of the new revenue recognition guidance		—			—		—			459		—			459
Net income		—			—		—			1,812		—			1,812
Balance at September 30, 2018		18,380		$	1,838	$	57,706		$	374,024	$	(43,455	)	$	390,113

No dividends were paid during the three months ended September 29, 2019 or in the two most recently completed fiscal years.

Share Repurchase Program

On April 23, 2014, UNIFI announced that its Board of Directors (the “Board”) had approved a share repurchase program (the “2014 SRP”) under which UNIFI was authorized to acquire up to $50,000 of its common stock. Through October 31, 2018 (the date the 2014 SRP was terminated, as noted below), UNIFI had repurchased a total of 806 shares, at an average price of $27.79 (for a total of $22,409, inclusive of commission costs) pursuant to the 2014 SRP.

On October 31, 2018, UNIFI announced that the Board had terminated the 2014 SRP and approved a new share repurchase program (the “2018 SRP”) under which UNIFI is authorized to acquire up to $50,000 of its common stock. Under the 2018 SRP, purchases will be made from time to time in the open market at prevailing market prices or through private transactions or block trades. The timing and amount of repurchases will depend on market conditions, share price, applicable legal requirements and other factors. The share repurchase authorization is discretionary and has no expiration date.

UNIFI made no repurchases of its shares of common stock during the three months ended September 29, 2019. As of September 29, 2019, $50,000 remained available for repurchase under the 2018 SRP.