Common Stock

12 Months Ended

Dec. 31, 2012

Common Stock

Common Stock

(11) Common Stock

        The Class A Common Stock and Class B Common Stock have equal dividend and liquidation rights. Each share of the Company's Class A Common Stock is entitled to one vote on all matters submitted to stockholders, and each share of Class B Common Stock is entitled to ten votes on all such matters. Shares of Class B Common Stock are convertible into shares of Class A Common Stock, on a one-to-one basis, at the option of the holder. As of December 31, 2012, the Company had reserved a total of 2,732,358 of Class A Common Stock for issuance under its stock-based compensation plans and 6,588,680 shares for conversion of Class B Common Stock to Class A Common Stock.

        On May 16, 2012, the Board of Directors authorized a stock repurchase program of up to two million shares of the Company's Class A Common Stock. The stock repurchase program was completed in July 2012, as the Company repurchased the entire two million shares of Class A common stock at a cost of approximately $65.8 million.

        On August 2, 2011 the Board of Directors authorized a stock repurchase program. Under the program, the Company was authorized to repurchase up to one million shares of our Class A Common Stock. During the three months ended October 2, 2011, the Company repurchased the entire one million shares at a cost of $27.2 million.