Build-A-Bear Workshop 2014 Annual Report Download - page 61

(17) Subsequent Event
On February 25, 2015, the Company announced the termination of the share repurchase program it adopted in 2008 (2008 Share Repurchase
Program) and adopted a new repurchase program (2015 Share Repurchase Program) which authorizes the Company to repurchase up to $10
million of its common stock until March 31, 2016, subject to further extension by the Board of Directors. As of February 25, 2015, approximately
6,245,000 shares had been repurchased under the 2008 Share Repurchase Program for an aggregate amount of $46.2 million. Under the 2015
Share Repurchase Program, the Company currently intends to purchase up to $10 million of its common stock in the open market (including
through 10b5-1 trading plans), through privately negotiated transactions, or through an accelerated repurchase transaction. The primary source
of funding has been, and is expected to be, cash on hand. The timing and amount of share repurchases, if any, will depend on price, market
conditions, applicable regulatory requirements, and other factors. The 2015 Share Repurchase Program does not require the Company to
repurchase any specific number of shares, and may be modified, suspended or terminated at any time without prior notice. Shares repurchased
under the 2015 Share Repurchase Program will be subsequently retired. As of March 13, 2015, there was approximately $9.0 million of availability
under the program.
(a)(2) Financial Statement Schedules
(1) Deductions from deferred tax asset valuation allowance represent reserves utilized
(2) Deductions from the receivables allowance for doubtful accounts represent uncollectible accounts written o and recoveries
(a)(3) Exhibits.
The following is a list of exhibits filed as a part of the Annual Report on Form 10-K:
Exhibit
Number Description
2.1 Agreement and Plan of Merger dated April 3, 2000 between
Build-A-Bear Workshop, L.L.C. and the Registrant
(incorporated by reference from Exhibit 2.1 to our
Registration Statement on Form S-1, filed on August 12,
2004, Registration No. 333-118142)
3.1 Third Amended and Restated Certificate of Incorporation
(incorporated by reference from Exhibit 3.1 of our Current
Report on Form 8-K, filed on November 8, 2004)
3.2 Amended and Restated Bylaws (incorporated by reference
from Exhibit 3.4 to our Registration Statement on Form S-1,
filed on August 12, 2004, Registration No. 333-118142)
4.1 Specimen Stock Certificate (incorporated by reference from
Exhibit 4.1 to Amendment No. 3 to our Registration
Statement on Form S-1, filed on October 1, 2004,
Registration No. 333-118142)
10.1* Build-A-Bear Workshop, Inc. 2000 Stock Option Plan
(incorporated by reference from Exhibit 10.1 to our
Registration Statement on Form S-1, filed on August 12,
2004, Registration No. 333-118142)
10.1.1* Form of Incentive Stock Option Agreement under the Build-A-
Bear Workshop, Inc. 2000 Stock Option Plan (incorporated by
reference from Exhibit 10.1.1 to Pre-Eective Amendment No.
3 to our Registration Statement on Form S-1, filed on October
1, 2004, Registration No. 333-118142)
Notes to Consolidated Financial Statements (continued)
Beginning
Balance
Charged to cost
and Expenses Deductions (1) (2) Ending Balance
Deferred Tax Asset Valuation Allowance 2014 20,987 - (5,415 )15,572
2013 20,865 122 - 20,987
2012 16,126 4,739 - 20,865
Receivables Allowance for Doubtful Accounts 2014 1,889 1,432 (73 ) 3,248
2013 1,316 1,109 (536 )1,889
2012 1,800 219 (703 ) 1,316
Schedule II – Valuation and Qualifying Accounts
BUILD-A-BEAR WORKSHOP, INC. 2014 ANNUAL REPORT 49