Citibank 2012 Annual Report Download - page 316

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UNREGISTERED SALES OF EQUITY, PURCHASES OF EQUITY SECURITIES, DIVIDENDS
Unregistered Sales of Equity Securities
None.
Share Repurchases
Under its currently existing repurchase program, Citigroup may buy back common shares in the market or otherwise from time to time. This program may be
used for many purposes, including offsetting dilution from stock-based compensation programs. Any repurchase program is subject to regulatory approval (see
“Risk Factors—Business and Operational Risks” above). The following table summarizes Citigroup’s share repurchases during 2012:
In millions, except per share amounts
Total shares
purchased (1)
Average
price paid
per share
Approximate dollar
value of shares that
may yet be purchased
under the plan or
programs
First quarter 2012
Open market repurchases (1) 0.1 $36.58 $6,726
Employee transactions (2) 1.4 29.26 N/A
Total first quarter 2012 1.5 $ 29.85 $6,726
Second quarter 2012
Open market repurchases (1) — $ — $6,726
Employee transactions (2) 0.1 32.62 N/A
Total second quarter 2012 0.1 $32.62 $6,726
Third quarter 2012
Open market repurchases (1) — $ — $6,726
Employee transactions (2) — — N/A
Total third quarter 2012 — — $ 6,726
October 2012
Open market repurchases (1) — $ — $6,726
Employee transactions (2) — — N/A
November 2012
Open market repurchases (1) — — 6,726
Employee transactions (2) — — N/A
December 2012
Open market repurchases (1) — — 6,726
Employee transactions (2) 0.1 36.03 N/A
Fourth quarter 2012
Open market repurchases (1) — $ — $6,726
Employee transactions (2) 0.1 36.03 N/A
Total fourth quarter 2012 0.1 $ 36.03 $ 6,726
Year-to-date 2012
Open market repurchases (1) 0.1 $36.58 $6,726
Employee transactions (2) 1.6 29.68 N/A
Total year-to-date 2012 1.7 $30.17 $6,726
(1) Open market repurchases are transacted under an existing share repurchase plan, which such repurchase plan is subject to regulatory approval. Since 2000, the Board of Directors has authorized the repurchase of
shares in the aggregate amount of $40 billion under Citi’s existing share repurchase plan.
(2) Consists of shares added to treasury stock related to activity on employee stock option program exercises, where the employee delivers existing shares to cover the option exercise, or under Citi’s employee restricted
or deferred stock program, where shares are withheld to satisfy tax requirements.
N/A Not applicable
For so long as the FDIC continues to hold any Citigroup trust preferred
securities acquired pursuant to the exchange offers consummated in
2009, Citigroup is, subject to certain exemptions, generally restricted from
redeeming or repurchasing any of its equity or trust preferred securities,
which restriction may be waived.