Build-A-Bear Workshop 2009 Annual Report Download - page 32

BUILD-A-BEAR WORKSHOP, INC. 2009 FORM 10-K
ISSUER PURCHASES OF EQUITY SECURITIES
Period
(a)
Total Number of
Shares
(or Units)
Purchased(1)
(b)
Average
Price Paid
Per Share
(or Unit)(1)
(c)
Total Number of
Shares (or Units)
Purchased as Part of
Publicly Announced
Plans or Programs(2)
(d)
Maximum Number
(or Approximate
Dollar Value) of
Shares (or Units)
that May Yet Be
Purchased Under
the Plans or
Programs
Oct. 4, 2009 – Oct. 31, 2009 1,047 $5.68 — $30,987,872
Nov. 1, 2009 – Nov. 28, 2009 — — — $30,987,872
Nov. 29, 2009 – Jan. 2, 2010 109 $4.64 — $30,987,872
Total 1,156 $5.58 — $30,987,872
(1) Includes shares of our common stock delivered to us in satisfaction of the tax withholding obligation of holders of restricted shares which vested during the
quarter. Our equity incentive plans provide that the value of shares delivered to us to pay the withheld to cover tax obligations is calculated as the average of the
high and low trading price of our common stock on the date the relevant transaction occurs.
(2) On March 3, 2010, we announced the further extension of our $50 million share repurchase program of our outstanding common stock until March 31, 2011.
The program was authorized by our board of directors. Purchases may be made in the open market or in privately negotiated transactions, with the level and
timing of activity depending on market conditions, applicable regulatory requirements, and other factors. Purchase activity may be increased, decreased or
discontinued at any time without notice. Shares purchased under the program are subsequently retired.
RECENT SALES OF UNREGISTERED SECURITIES
There were no sales of unregistered securities during the
fourth quarter of fiscal 2009.
DIVIDEND POLICY
We anticipate that we will retain any future earnings to
support operations, to finance the growth and development of
our business and to repurchase shares of our common stock
from time to time and we do not expect, at this time, to pay
cash dividends in the future. Any future determination relating
to our dividend policy will be made at the discretion of our
board of directors and will depend on a number of factors,
including future earnings, capital requirements, financial
conditions, future prospects and other factors that the board
of directors may deem relevant. Additionally, under our credit
agreement, we are prohibited from declaring dividends
without the prior consent of our lender, subject to certain
exceptions, as described in “Management’s Discussion and
Analysis of Financial Condition and Results of Operations —
Liquidity and Capital Resources.”
ITEM 6. SELECTED FINANCIAL DATA
Throughout this Annual Report on Form 10-K, we refer
to our fiscal years ended January 2, 2010, January 3,
2009, December 29, 2007, December 30, 2006 and
December 31, 2005, as fiscal years 2009, 2008, 2007,
2006 and 2005, respectively. Our fiscal year consists of 52
or 53 weeks, and ends on the Saturday nearest December 31
in each year. Fiscal years 2009, 2007, 2006 and 2005
included 52 weeks and fiscal year 2008 included 53 weeks.
All of our fiscal quarters presented in this Annual Report on
Form 10-K included 13 weeks, with the exception of the fourth
quarter of fiscal 2008 which included 14 weeks. When we
refer to our fiscal quarters, or any three month period ending
as of a specified date, we are referring to the 13-week or
14-week period prior to that date.
The following table sets forth, for the periods and dates
indicated, our selected consolidated financial and operating
data. The balance sheet data as of January 2, 2010 and
January 3, 2009 and the statement of operations and other
financial data for our fiscal years ended January 2, 2010,
January 3, 2009 and December 29, 2007 are derived from
our audited financial statements included elsewhere in this
Annual Report on Form 10-K. The balance sheet data as of
December 29, 2007, December 30, 2006 and
December 31, 2005, and the statement of income and other
financial data for our fiscal years ended December 30, 2006
and December 31, 2005 are derived from our audited
consolidated financial statements that are not included in this
Annual Report on Form 10-K. You should read our selected
consolidated financial and operating data in conjunction with
our consolidated financial statements and related notes and
with “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” appearing elsewhere
in this Annual Report on Form 10-K.
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