Subsequent Events

9 Months Ended

Sep. 28, 2014

Subsequent Events

Subsequent Events

12. Subsequent Events

On October 14, 2014, Dean P. Freeman was terminated without cause from his positions as Executive Vice President and Chief Financial Officer of the Company.  The Company and Mr. Freeman agreed to a separation agreement, and the terms of the agreement are disclosed in a Current Report on Form 8-K filed on October 31, 2014.  The Company has initiated a search for the Company’s next Chief Financial Officer.

Effective as of October 14, 2014, the Board of Directors of the Company appointed the Company’s current President and Chief Executive Officer, Robert J. Pagano, Jr., to serve as interim Chief Financial Officer of the Company in addition to his ongoing responsibilities as President and Chief Executive Officer.

On October 27, 2014, the Company declared a quarterly dividend of fifteen cents ($0.15) per share on each outstanding share of Class A common stock and Class B common stock payable on December 5, 2014 to stockholders of record at the close of business on November 24, 2014.