Item 1A. RISK FACTORS

There have been no material changes to the risk factors as disclosed in the Company’s Form 10-K for the year ended January 2, 2021 filed with the Securities and Exchange Commission on February 18, 2021.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

Issuer Purchases of Equity Securities

The following table provides information about the Company’s purchases of equity securities that are registered by the Company pursuant to Section 12 of the Exchange Act during the three months ended October 2, 2021:

(a)The shares of common stock in this column were deemed surrendered to the Company by participants in various benefit plans of the Company to satisfy the participants’ taxes related to vesting or delivery of time-vesting restricted share units under those plans.

(b)On April 23, 2021, the Board of Directors approved a new repurchase program of up to 20.0 million shares of the Company's common stock and terminated the previously approved repurchase program. As of October 2, 2021, the authorized shares available for repurchase under the new program totaled 20.0 million shares. The repurchase program does not have an expiration date. In the second quarter of 2021, the Company net-share settled capped call options and received 344,004 shares. This transaction was completed under the previously approved repurchase program. The currently authorized shares available for repurchase do not include approximately 3.6 million shares reserved and authorized for purchase under the Company’s previously approved repurchase program relating to a forward share purchase contract entered into in March 2015. Refer to Note J, Equity Arrangements, of the Notes to Unaudited Condensed Consolidated Financial Statements in Part I, Item 1 for further discussion.