COMMON STOCK REPURCHASES

12 Months Ended

Apr. 03, 2021

COMMON STOCK REPURCHASES

From time to time, the Company's Board has authorized programs under which the Company may repurchase shares of its common stock, depending on market conditions, in the open market or through privately negotiated transactions. Repurchased shares are held as treasury stock until they are retired or re-issued. On November 28, 2018, the Board approved a 1.0 million shares repurchase program expanding its capacity to repurchase shares to approximately 1.7 million shares. As of April 3, 2021, there remained 1,369,014 shares authorized for repurchase under the repurchase program approved by the Board.

Repurchases by the Company pursuant to Board-authorized program are shown in the following table:


	Fiscal Year Ended
(in thousands)	April 3, 2021		March 28, 2020
Value of shares withheld in satisfaction of employee tax obligations	$	5,930	$	9,891

The amounts withheld were equivalent to the employees' minimum statutory tax withholding requirements and are reflected as a financing activity within the Company's Consolidated Statements of Cash Flows. These share withholdings have the same effect as share repurchases by the Company as they reduce the number of shares that would have otherwise been issued in connection with the vesting of shares subject to the restricted stock grants.

There were no retirements of treasury stock during Fiscal Years 2021, 2020, and 2019.