Shareholders' Equity

12 Months Ended

Jul. 03, 2022

Equity [Abstract]

Shareholders' Equity

SHAREHOLDERS’ EQUITY

We have 18,000,000 and 12,000,000 shares of authorized common stock, par value $.01 per share, with 3,876,703 and 3,805,065 shares outstanding at July 3, 2022 and June 27, 2021, respectively. Holders of our common stock are entitled to one vote for each share on all matters voted on by shareholders.

Our Board of Directors previously authorized a stock repurchase program to buy back up to 3,839,395 outstanding shares of our common stock as of July 3, 2022. As of July 3, 2022, 3,655,322 shares have been repurchased under this program at a cost of approximately $136.4 million. No shares were repurchased under this program during 2022 or 2021.