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Note 12 - Capital Stock
12 Months Ended
Jul. 01, 2018
Notes to Financial Statements  
Capital Stock Disclosure [Text Block]
Note
12.
Capital Stock
 
Holders of Class A common stock generally have the same rights as the holders of Class B common stock, except that holders of Class A common stock have
one
vote per share and holders of Class B common stock have
10
votes per share on all matters submitted to the vote of stockholders. Holders of Class A common stock and Class B common stock generally vote together as a single class on all matters presented to the stockholders for their vote or approval, except as
may
be required by Delaware law. Class B common stock
may
be converted into Class A common stock at any time on a
one
-for-
one
share basis. Each share of Class B common stock will automatically convert into
one
share of Class A common stock upon its transfer, with limited exceptions. During fiscal
2018
and fiscal
2017,
78,780
and
1,361,401
shares of Class B common stock, respectively, were converted into shares of Class A common stock.
 
The Company has a stock repurchase plan through which purchases can be made from time to time in the open market and through privately negotiated transactions, subject to general market conditions. The repurchase program is financed utilizing available cash. In
October 2016,
the Company’s Board of Directors authorized an increase to its stock repurchase plan of up to
$25
million, and then on
August 30, 2017,
the Board of Directors increased the authorization to
$30.0
million. The Company repurchased a total of
$12.2
million (
1,269,059
shares),
$10.7
million (
1,120,706
shares) and
$15.2
million (
1,714,550
shares) during the fiscal years ended
July 1, 2018,
July 2, 2017
and
July 3, 2016,
respectively, under this program. As of
July 1, 2018,
$20.0
million remains authorized under the plan.
 
The Company has stock options and restricted stock awards outstanding to participants under the
1
-
800
-FLOWERS.COM
2003
Long Term Incentive and Share Award Plan (as amended and restated as of
October 22, 2009,
as amended as of
October 28, 2011
and
September 14, 2016) (
the “Plan”). The Plan is a broad-based, long-term incentive program that is intended to provide incentives to attract, retain and motivate employees, consultants and directors in order to achieve the Company’s long-term growth and profitability objectives. The Plan provides for the grant to eligible employees, consultants and directors of stock options, share appreciation rights (“SARs”), restricted shares, restricted share units, performance shares, performance units, dividend equivalents, and other share-based awards (collectively “Awards”).