CarMax 2016 Annual Report Download - page 23
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PART II
Item 5. Market for the Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity
Securities.
Our common stock is listed and traded on the New York Stock Exchange under the ticker symbol KMX. We are authorized to
issue up to 350,000,000 shares of common stock and up to 20,000,000 shares of preferred stock. As of February 29, 2016, there
were 194,712,234 shares of CarMax common stock outstanding and we had approximately 4,000 shareholders of record. As of
that date, there were no preferred shares outstanding.
The following table presents the quarterly high and low sales prices per share for our common stock for each quarter during the
last two fiscal years, as reported on the New York Stock Exchange composite tape.
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
Fiscal 2016
High $ 75.40 $ 73.76 $ 62.96 $ 60.00
Low $ 61.98 $ 55.27 $ 53.46 $ 41.25
Fiscal 2015
High $ 49.68 $ 53.70 $ 57.28 $ 68.71
Low $ 42.54 $ 43.80 $ 43.27 $ 55.86
We have not paid any dividends on our common stock and do not plan to pay dividends on our common stock for the foreseeable
future. We anticipate that for the foreseeable future any cash flow generated from our operations will be used to fund our existing
operations, capital expenditures and share repurchase program.
During the fourth quarter of fiscal 2016, we sold no CarMax equity securities that were not registered under the Securities Act.
Issuer Purchases of Equity Securities
The following table provides information relating to the company’s repurchase of common stock during the fourth quarter of fiscal
2016. The table does not include transactions related to employee equity awards or the exercises of employee stock options.
Approximate
Dollar Value
Total Number of Shares that
Total Number Average of Shares Purchased May Yet Be
of Shares Price Paid as Part of Publicly Purchased Under
Period Purchased per Share Announced Programs the Programs (1)
December 1-31, 2015 1,865,080 $ 57.21 1,865,080 $ 1,447,148,751
January 1-31, 2016 — $ — — $ 1,447,148,751
February 1-29, 2016 1,098,896 $ 44.71 1,098,896 $ 1,398,019,339
Total 2,963,976 2,963,976
(1) In fiscal 2013, our board of directors authorized the repurchase of up to $800 million of our common stock, which was exhausted in fiscal
2015. On April 4, 2014, we announced that the board had authorized the repurchase of up to an additional $1 billion of our common stock,
expiring on December 31, 2015. This authorization was exhausted during the quarter ended August 31, 2015. On October 22, 2014, we
announced that the board had further authorized the repurchase of up to an additional $2 billion of our common stock, expiring on December
31, 2016. Purchases may be made in open market or privately negotiated transactions at management’s discretion and the timing and
amount of repurchases are determined based on share price, market conditions, legal requirements and other factors. Shares repurchased
are deemed authorized but unissued shares of common stock.