(11) Stock Repurchase Programs

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On February 19, 2025, our Board of Directors (the "Board") approved a stock repurchase program under which we may repurchase up to $500.0 million of our common stock. This stock repurchase program commenced on February 24, 2025, has no expiration date, and replaced a previous stock repurchase program which was approved on March 17, 2022

that authorized the Company to repurchase up to $300.0 million of our common stock. All repurchases to date under our stock repurchase programs have been made through open market transactions. The timing and the amount of any repurchases are determined by management under parameters established by the Board, based on an evaluation of our stock price, market conditions, and other corporate considerations, including complying with Rule 10b5-1 trading arrangements under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as applicable.

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For the 13 and 26 weeks ended July 1, 2025, we paid $9.8 million and $60.0 million, excluding excise taxes, to repurchase 61,698 shares and 342,789 shares of our common stock, respectively. This includes $30.0 million repurchased under our current authorization and $30.0 million repurchased under our prior authorization. For the 13 and 26 weeks ended June 25, 2024, we paid $26.2 million and $35.1 million, excluding excise taxes, to repurchase 162,404 and 222,666 shares of our common stock, respectively. As of July 1, 2025, $470.0 million remained under our authorized stock repurchase program.