Adobe 2009 Annual Report Download - page 50

Download and view the complete annual report

Please find page 50 of the 2009 Adobe annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 139

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139

50
Issuer Purchases of Equity Securities
Below is a summary of stock repurchases for the quarter ended November 27, 2009. See Note 14 of our Notes to
Consolidated Financial Statements for information regarding our stock repurchase programs.
Plan/Period(1)
Shares
Repurchased(2)
Average
Price Per
Share
Maximum Number
of Shares that May
Yet be Purchased
Under the Plan
Stock Repurchase Program I
Beginning shares available to be repurchased as of August 28, 2009 ...
131,855,184
(3)
August 29September 25, 2009
Structured repurchases ......................................
1,842,160
$
31.62
September 26October 23, 2009
Structured repurchases ......................................
1,770,314
$
32.73
October 24November 27, 2009
From employees(4) .........................................
10
$
34.78
Structured repurchases ......................................
1,705,926
$
33.88
Adjustments to repurchase authority for net dilution ..............
5,840,221
(5)
Total shares repurchased ..................................
5,318,410
(5,318,410
Ending shares available to be repurchased under Program I as of
November 27, 2009 .........................................
132,376,995
(6)
_________________________________________
(1) In December 1997, our Board of Directors authorized Stock Repurchase Program I which is not subject to expiration.
However, this repurchase program is limited to covering net dilution from stock issuances and is subject to business
conditions and cash flow requirements as determined by our Board of Directors from time to time.
(2) All shares were purchased as part of publicly announced plans.
(3) Additional 109.0 million shares were issued for the acquisition of Macromedia which accounted for the majority of the
repurchase authorization.
(4) The repurchases from employees represent shares cancelled when surrendered in lieu of cash payments for withholding
taxes due.
(5) Adjustment of authority to reflect changes in the dilution from outstanding shares and options.
(6) The remaining authorization for the ongoing stock repurchase program is determined by combining all stock issuances,
net of any cancelled, surrendered or exchanged shares less all stock repurchases under the ongoing plan, beginning in the
first quarter of fiscal 1998.