Classmates.com 2010 Annual Report Download - page 42

Table of Contents
February 2011, the Board of Directors extended the Program through December 31, 2011 and increased the amount authorized to $80 million.
Shares withheld upon the vesting of restricted stock units and restricted stock awards and upon the issuance of stock awards to pay
applicable required employee withholding taxes are considered common stock repurchases, but are not counted as purchases against the
Program. Upon vesting of most restricted stock units or issuance of stock awards, we currently do not collect the applicable required employee
withholding taxes from employees. Instead, we automatically withhold, from the restricted stock units that vest and from the stock awards that
are issued, the portion of those shares with a fair market value equal to the amount of the employee withholding taxes due, which is accounted
for as a repurchase of common stock. We then pay the applicable required employee withholding taxes.
Common stock repurchases during the quarter ended December 31, 2010 were as follows (in thousands, except per share amounts):
40
Period Total Number of Shares Purchased Average Price Paid per Share
Total Number of
Shares Purchased as
Part of a Publicly
Announced Program
Maximum Approximate
Dollar Value that
May Yet be Purchased
Under the Program
November 2010
213
$
6.66
—
$
49,821
December 2010
3
$
6.65
—
$
49,821