AutoZone 2010 Annual Report Download - page 107

PA RT I I
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of
Equity Securities
Our common stock is listed on the New York Stock Exchange under the symbol “AZO.” On October 18, 2010,
there were 3,182 stockholders of record, which does not include the number of beneficial owners whose shares
were represented by security position listings.
We currently do not pay a dividend on our common stock. Our ability to pay dividends is subject to limitations
imposed by Nevada law. Any payment of dividends in the future would be dependent upon our financial
condition, capital requirements, earnings, cash flow and other factors.
The following table sets forth the high and low sales prices per share of common stock, as reported by the
New York Stock Exchange, for the periods indicated:
Fiscal Year Ended August 28, 2010: High Low
Price Range of Common Stock
Fourth quarter .......................................................................................... $215.21 $177.66
Third quarter ............................................................................................ $187.94 $160.20
Second quarter ......................................................................................... $161.33 $146.17
First quarter.............................................................................................. $154.69 $135.13
Fiscal Year Ended August 29, 2009:
Fourth quarter .......................................................................................... $164.38 $141.00
Third quarter ............................................................................................ $169.99 $129.21
Second quarter ......................................................................................... $145.77 $ 92.52
First quarter.............................................................................................. $143.80 $ 84.66
During 1998, the Company announced a program permitting the Company to repurchase a portion of its
outstanding shares not to exceed a dollar maximum established by the Company’s Board of Directors. The
program was most recently amended on September 28, 2010, to increase the repurchase authorization to
$9.4 billion from $8.9 billion. The program does not have an expiration date.
Shares of common stock repurchased by the Company during the quarter ended August 28, 2010, were as follows:
Period
Total
Number of
Shares
Purchased
Average
Price Paid
per Share
Total Number of
Shares Purchased
as Part of Publicly
Announced Plans
or Programs
Maximum Dollar
Value that May
Yet Be Purchased
Under the Plans
or Programs
May 9, 2010, to June 5, 2010 ............ 143,300 $187.00 143,300 $724,016,859
June 6, 2010, to July 3, 2010............. 1,129,590 191.26 1,129,590 507,976,727
July 4, 2010, to July 31, 2010............ 700,401 201.69 700,401 366,710,411
August 1, 2010, to August 28, 2010.. 869,716 208.44 869,716 185,428,381
Total .................................................... 2,843,007 $198.87 2,843,007 $185,428,381
The Company also repurchased, at fair value, an additional 30,617 shares in fiscal 2010, 37,190 shares in fiscal
2009, and 39,235 shares in fiscal 2008 from employees electing to sell their stock under the Company’s Third
Amended and Restated Employee Stock Purchase Plan, qualified under Section 423 of the Internal Revenue Code,
under which all eligible employees may purchase AutoZone’s common stock at 85% of the lower of the market
price of the common stock on the first day or last day of each calendar quarter through payroll deductions.
Maximum permitted annual purchases are $15,000 per employee or 10 percent of compensation, whichever is less.
Under the plan, 26,620 shares were sold to employees in fiscal 2010, 29,147 shares were sold to employees in
fiscal 2009, and 36,147 shares were sold to employees in fiscal 2008. At August 28, 2010, 293,983 shares of
common stock were reserved for future issuance under this plan. Under the Amended and Restated Executive Stock
Purchase Plan all eligible executives are permitted to purchase AutoZone’s common stock up to 25 percent of his
or her annual salary and bonus. Purchases by executives under this plan were 1,480 shares in fiscal 2010,
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10-K