Stockholders' Equity

12 Months Ended

Dec. 30, 2012

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders’ Equity

There were 470,424 shares of common stock issued at the beginning and end of 2012, 2011 and 2010. Treasury stock activity for 2012, 2011 and 2010 was as follows:

	Treasury Stock
	2012		2011		2010
Number of shares at beginning of year	80,700		52,050		17,492
Repurchase of common stock	—		30,983		35,406
Common shares issued:
Stock options, net	(2,079	)	(1,461	)	(383	)
Restricted stock, net	(211	)	(693	)	(266	)
Director fees	(45	)	(42	)	(47	)
Other	(314	)	(137	)	(152	)
Number of shares at end of year	78,051		80,700		52,050

Repurchases of Common Stock

In November 2012, our Board of Directors authorized the repurchase of up to $100,000 of our common stock through December 29, 2013, when and if market conditions warrant and to the extent legally permissible. No repurchases were made for the year endedDecember 30, 2012.

Under the prior repurchase program, which expired at the end of fiscal 2011, our Board of Directors had authorized in aggregate the repurchase of $495,000 of our common stock. During 2011 and 2010, the Company repurchased 30,983 and 35,406 shares with an aggregate purchase price of $157,014 and $167,101, excluding commissions of $542 and $642, respectively.

Preferred Stock

There were 100,000 shares authorized and no shares issued of preferred stock throughout 2012, 2011 and 2010.

Restricted Net Assets of Subsidiaries

Restricted net assets of consolidated subsidiaries were approximately $1,100,000, representing approximately 55% of The Wendy’s Company consolidated stockholders’ equity as of December 30, 2012 and consisted of net assets of Wendy’s which were restricted as to transfer to The Wendy’s Company in the form of cash dividends, loans or advances under the covenants of the Credit Agreement.

Dividends paid to The Wendy’s Company from its subsidiaries totaled $443,700 in 2010. No dividends were paid in 2012 or 2011.