Treasury Stock

6 Months Ended

Jun. 28, 2019

Class Of Stock Disclosures [Abstract]

Treasury Stock

11. Treasury Stock

The Company’s Board of Directors has authorized the repurchase of its stock up to a total of $30.0 million. The Company did not purchase shares for treasury during the 2019 second quarter or year-to-date period. As of June 28, 2019, the Company had repurchased approximately 3.2 million of shares pursuant to the authorization and had approximately $7.7 million left in its current stock repurchase authorization.

During the 2019 second quarter and year-to-date period, the Company issued 203,000 and 419,000 shares, respectively, out of treasury stock primarily to fulfill the share requirements from purchases of stock in the Non-Employee Director Deferred Compensation Plan, stock option exercises, and restricted stock grants.

The Company purchased 1,548,000 and 1,573,000 shares for treasury during the 2018 second quarter and year-to-date period, respectively. At June 29, 2018, the Company had approximately $8.9 million remaining in its stock repurchase authorization. During the 2018 second quarter and year-to-date period, the Company issued 516,000 and 880,000 shares, respectively, out of treasury stock primarily to fulfill the share requirements from purchases of stock in the Non-Employee Director Deferred Compensation Plan, stock options exercises, and restricted stock grants.