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 thirty-nine weeks ended September 27, 2014, we repurchased and cancelled 38,100 shares of common stock for $2.1 million at an average price of $54.02 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.

The Board of Directors has authorized a share repurchase program, authorizing the repurchase of up to $50 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 thirty-nine weeks ended September 27, 2014, we repurchased and cancelled 833,100 shares of common stock for $39.3 million at an average price of $47.15 per share under this program. At September 27, 2014, we had approximately $10.7 million remaining under the program. As discussed in Note 12, on October 28, 2014 this share repurchase program was increased and extended.