STOCKHOLDERS' EQUITY TRANSACTIONS

9 Months Ended

Sep. 28, 2013

STOCKHOLDERS' EQUITY TRANSACTIONS

STOCKHOLDERS' EQUITY TRANSACTIONS

NOTE 13      STOCKHOLDERS’ EQUITY TRANSACTIONS

In May 2008, the Board of Directors of the Company approved a share repurchase program, authorizing the purchase of up to 4.0 million shares of the Company’s common stock.  No purchases were made under this program during the nine months ended September 28, 2013.  As of September 28, 2013, 3.9 million shares remained available for purchase under the program.  The terms of the New Credit Agreement, permit the Company to purchase shares under the repurchase program during the term of such facility, subject to certain conditions and limitations.

During the nine months ended September 28, 2013, the Company cancelled 0.1 million restricted stock units in payment by employees of taxes owed upon the vesting of restricted stock units issued to them under the Company’s stock incentive plans.  The value of these restricted stock units totaled $2.0 million at the time they were cancelled.