Stockholders’ Deficit |
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| Stockholders’ Deficit | Stockholders’ Deficit Dividends In connection with the Company’s regular dividend program, our Board of Directors declared a quarterly dividend of $0.33 per share of common stock in the third quarter of 2026. Subsequent to the third quarter, on October 27, 2026, our Board of Directors declared a regular quarterly dividend of $0.33 per share of common stock for stockholders of record as of November 13, 2026. The regular quarterly dividend is to be paid on December 4, 2026, totaling approximately $9.0 million. Share Repurchase Program The following table summarizes shares repurchased and retired, and the average price per share, during the periods presented:
On March 5, 2026, the Company’s Board of Directors authorized the purchase of up to an additional $300.0 million of the Company’s common stock under the share repurchase program. On December 9, 2024, the Company entered into an accelerated share repurchase agreement (the “ASR Agreement”) with a third-party financial institution to repurchase $250.0 million of the Company’s common stock under its Share Repurchase Program. Pursuant to the terms of the ASR Agreement, the Company paid the financial institution $250.0 million and, on December 9, 2024, the Company received and retired 551,325 shares of its common stock. The final settlement under the ASR Agreement occurred on February 20, 2025, and the Company received and retired an additional 317,202 shares of common stock. In connection with the ASR Agreement, the Company received and retired a total of 868,527 shares of common stock at an average price of $287.84 per share. The total number of shares repurchased under the ASR Agreement was based on a daily volume-weighted average share price during the valuation period specified in the ASR Agreement, less a discount and subject to adjustments. During the thirty-nine weeks ended September 26, 2026, the Company repurchased and retired 565,012 shares of its common stock at an average price of $182.10 per share. As of September 26, 2026, $288.4 million remained available under the Share Repurchase Program.
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