Classmates.com 2005 Annual Report Download - page 35

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Share repurchases executed under the common stock repurchase program at December 31, 2005 were as follows (in thousands, except per
share amounts):
(1)
All shares were repurchased as part of a publicly announced program.
In February 2006, we announced our intention to offer our eligible employees the opportunity to exchange any outstanding stock options
granted to them which have an exercise price per share of our common stock at or above $16.00 (the “Eligible Options”) in return for restricted
stock units (“RSUs”). The number of RSUs that will be issued in exchange for each tendered Eligible Option will be based on the per share
exercise price of that option and will, in all events, be less than the number of shares subject to the tendered option. Eligible options with
exercise prices between $16.00 and $20.00 will be exchanged based on a ratio of one RSU for four eligible options. Eligible options with
exercise prices greater than $20.00 will be exchanged based on a ratio of one RSU for five eligible options. There are approximately 1.9 million
Eligible Options, which could be exchanged for approximately 0.4 million RSUs.
34
Period
Shares
Repurchased(1)
Average Price Paid
per Share
Maximum Approximate Dollar
Value that May Yet be
Purchased Under the Program
August 2001
138
$
1.67
$
9,770
November 2001
469
1.77
8,940
February 2002
727
3.38
6,485
August 2002
288
7.51
27,820
February 2003
193
9.43
26,005
May 2003
281
13.51
22,207
November 2003
2,024
19.76
48,706
February 2004
2,887
16.86
—
May 2004
—
—
100,000
August 2004
2,657
9.41
74,989
February 2005
1,268
11.20
60,782
Total
10,932
$
12.74