7.	Common Stock Repurchases

We periodically repurchase, at the then current market price, and cancel common stock issued to the Dorman Products, Inc. 401(k) Retirement Plan and Trust (the “401(k) Plan”). Shares are generally purchased from the 401(k) Plan when participants sell units as permitted by the 401(k) Plan or elect to leave the 401(k) Plan upon retirement, termination or other reasons. For the twenty-six weeks ended June 28, 2014, we repurchased and cancelled 30,710 shares of common stock at an average price of $56.04 per share. During the fifty-two weeks ended December 28, 2013, we repurchased and cancelled 78,580 shares of common stock at an average price of $44.39 per share.

On December 12, 2013, we announced that our Board of Directors authorized a share repurchase program, authorizing the repurchase of up to $10 million of our outstanding common stock. This stock repurchase program was set to expire at the end of fiscal 2014. On May 20, 2014, we announced that our Board of Directors approved an expansion and extension of this share repurchase program, authorizing the purchase of up to $30 million of our outstanding common stock through May 31, 2015. Under this program, share repurchases may be made from time to time depending on market conditions, share price, share availability and other factors at our discretion. The share repurchase program does not obligate us to acquire any specific number of shares. For the twenty-six weeks ended June 28, 2014, we repurchased and cancelled 161,900 shares of common stock at an average price of $52.75 per share under this program. At June 28, 2014, we had approximately $21.5 million remaining under the program.