Electronic Arts 2016 Annual Report Download - page 107

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Annual Report
PART II
Item 5: Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of
Equity Securities
Market Information
Our common stock is traded on the NASDAQ Global Select Market under the symbol “EA”. The following table
sets forth the quarterly high and low closing sales price per share of our common stock from April 1, 2014
through March 31, 2016.
Prices
High Low
Fiscal Year Ended March 31, 2015:
First Quarter ............................................................... $37.15 $26.67
Second Quarter ............................................................. 38.42 33.31
Third Quarter ............................................................... 48.33 32.62
Fourth Quarter .............................................................. 58.24 45.96
Fiscal Year Ended March 31, 2016:
First Quarter ............................................................... 68.00 56.03
Second Quarter ............................................................. 75.16 63.43
Third Quarter ............................................................... 76.77 65.04
Fourth Quarter .............................................................. 70.83 55.50
Holders
There were approximately 1,305 holders of record of our common stock as of May 23, 2016, and the closing
price of our common stock was $73.24 per share as reported by the NASDAQ Global Select Market. In addition,
a significant number of beneficial owners of our common stock hold their shares in street name.
Dividends
We have not paid any cash dividends and do not anticipate paying cash dividends in the foreseeable future.
Issuer Purchases of Equity Securities
In May 2015, our Board of Directors authorized a program to repurchase up to $1 billion of our common stock.
This stock repurchase program expires on May 31, 2017. Under the May 2015 program, we may purchase stock
in the open market or through privately-negotiated transactions in accordance with applicable securities laws,
including pursuant to pre-arranged stock trading plans. The timing and actual amount of the stock repurchases
will depend on several factors including price, capital availability, regulatory requirements, alternative
investment opportunities and other market conditions. We are not obligated to repurchase any specific number of
shares under this program and it may be modified, suspended or discontinued at any time. We repurchased
approximately 2.1 million shares for approximately $134 million under this program during the three months
ended March 31, 2016. We repurchased approximately 6.9 million shares for approximately $461 million during
fiscal year 2016 under the May 2015 program. We continue to actively repurchase shares.
In February 2016, we announced a new $500 million stock repurchase program. This new program was
incremental to the existing two-year $1 billion stock repurchase program announced in May 2015 and had an
expiration date of May 31, 2016. We completed repurchases under the February 2016 program during the quarter
ended March 31, 2016. We repurchased approximately 7.8 million shares for approximately $500 million under
this new program.
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