Citrix 2014 Annual Report Download - page 37

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PART II
ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER
PURCHASES OF EQUITY SECURITIES
Price Range of Common Stock and Dividend Policy
Our common stock is currently traded on The NASDAQ Global Select Market under the symbol CTXS. The following
table sets forth the high and low sales prices for our common stock as reported on The NASDAQ Global Select Market for the
periods indicated, as adjusted to the nearest cent.
High Low
Year Ended December 31, 2014:
Fourth quarter $ 71.19 $ 59.39
Third quarter $ 72.89 $ 61.83
Second quarter $ 65.72 $ 53.86
First quarter $ 63.20 $ 51.18
Year Ended December 31, 2013:
Fourth quarter $ 71.74 $ 54.52
Third quarter $ 77.16 $ 60.50
Second quarter $ 72.65 $ 58.00
First quarter $ 75.50 $ 65.52
On February 13, 2015, the last reported sale price of our common stock on The NASDAQ Global Select Market was
$64.51 per share. As of February 13, 2015, there were 636 holders of record of our common stock.
We currently intend to retain any earnings for use in our business, for investment in acquisitions and to repurchase shares
of our common stock. We have not paid any cash dividends on our capital stock in the last two years and do not currently
anticipate paying any cash dividends on our capital stock in the foreseeable future.
Issuer Purchases of Equity Securities
Our Board of Directors has authorized an ongoing stock repurchase program with a total repurchase authority granted to
us of $5.4 billion, of which $1.5 billion was approved in April 2014. We may use the approved dollar authority to repurchase
stock at any time until the approved amount is exhausted. The objective of the stock repurchase program is to improve
stockholders’ returns. At December 31, 2014, approximately $288.4 million was available to repurchase common stock
pursuant to the stock repurchase program. All shares repurchased are recorded as treasury stock. The following table shows the
monthly activity related to our stock repurchase program for the quarter ended December 31, 2014.
Total Number
of Shares
Purchased (1)
Average
Price Paid
per Share
Total Number
of Shares
Purchased as Part
of Publicly
Announced Plans
or Programs
Approximate dollar
value of Shares that
may yet be
Purchased under the
Plans or Programs
(in thousands)(2)
October 1, 2014 through October 31, 2014 2,785,437 $ 65.81 2,762,333 $ 319,913
November 1, 2014 through November 30, 2014 387,994 $ 65.62 382,900 $ 294,789
December 1, 2014 through December 31, 2014 158,574 $ 65.65 97,100 $ 288,399
Total 3,332,005 $ 65.78 3,242,333 $ 288,399
(1) Represents approximately 2.6 million shares received in settlement of our accelerated share repurchase, or ASR, 0.6
million shares acquired in open market purchases under the stock repurchase program and 89,672 shares withheld
from stock units that vested in the fourth quarter of 2014 to satisfy minimum tax withholding obligations that arose on
the vesting of stock units. We expended approximately $39.9 million during the quarter ended December 31, 2014 for
repurchases of our common stock. For more information see Note 8 to our consolidated financial statements.
(2) Shares withheld from stock units that vested to satisfy minimum tax withholding obligations that arose on the vesting
of stock units do not deplete the dollar amount available for purchases under the repurchase program.
In April 2014, in connection with the $1.5 billion increase in repurchase authority granted to us under our ongoing stock
repurchase program, we used approximately $101.0 million to purchase 1.7 million shares of our common stock from certain
purchasers of the Convertible Notes in privately negotiated transactions concurrently with the closing of the Convertible Notes