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Stock Repurchase Program And Shares Withheld From Vested Restricted Shares
12 Months Ended
Jan. 25, 2015
Equity [Abstract]  
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, for a total authorized 2011 Program of $100.0 million. In November 2014, the Company announced that the Board of Directors had authorized an additional $28.4 million of repurchases under the 2011 Program, which together with the $21.6 million then remaining under the program, brought the remaining total authorization to $50.0 million, such authorization being subject to certain limitation, guidelines and conditions as directed by the Board of Directors.
The following table summarizes the stock repurchase activities and shares withheld from vested restricted shares during the periods indicated:
 
Fiscal Year Ended
 
January 25, 2015
 
January 26, 2014
 
January 27, 2013
(in thousands, except number of shares)
Shares
 
Value
 
Shares
 
Value
 
Shares
 
Value
Shares repurchased under the 2011 program
1,578,869

 
$
40,906

 
1,034,491

 
$
30,000

 
263,443

 
$
7,500

Shares withheld from vested restricted shares

 

 

 

 
9,696

 
269

Total treasury shares acquired
1,578,869

 
$
40,906

 
1,034,491

 
$
30,000

 
273,139

 
$
7,769


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.