Stock Repurchase Program And Shares Withheld From Vested Restricted Shares

12 Months Ended

Jan. 26, 2014

Stock Repurchase Program And Shares Withheld From Vested Restricted Shares

Stock Repurchase Program and Shares Withheld from Vested Restricted Shares

The Company maintains an active stock repurchasing program which was approved by the Company's Board of Directors in March 2008 (the "2008 program"). The 2008 program does not have an expiration date and the Board of Directors has authorized expansion of the program over the years. In November 2011 the Board of Directors authorized the Company to repurchase up to $50.0 million of shares of the Company's common stock from time to time through negotiated or open market transactions (the "2011 Program"). On August 21, 2013, the Company announced an additional $50.0 million expansion of the 2011 Program.

The following table summarizes the stock repurchase activities and shares withheld from vested restricted shares during the periods indicated:



	Fiscal Year Ended
	January 26, 2014			January 27, 2013			January 29, 2012
(in thousands, except number of shares)	Shares	Value		Shares	Value		Shares	Value
Shares repurchased under the 2011 program	1,034,491	$	30,000	263,443	$	7,500	2,252,099	$	50,000
Shares withheld from vested restricted shares	—	—		9,696	269		27,427	665
Total treasury shares acquired	1,034,491	$	30,000	273,139	$	7,769	2,279,526	$	50,665

The Company currently intends to hold the repurchased and withheld shares as treasury stock. The Company typically reissues treasury shares to settle stock option exercises and restricted share grants.