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35 Express Scripts 2013 Annual Report
PART II
Item 5 — Market For Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity
Securities
Market Price of and Dividends on the Registrant’s Common Equity and Related Stockholder Matters
Market Information. Our common stock is traded on the Nasdaq Global Select Market (“Nasdaq”) under the
symbol “ESRX.” The high and low prices, as reported by the Nasdaq, are set forth below for the periods indicated. Note that
prices for the period before April 2, 2012 relate to the common stock of ESI and the prices for the period after April 2, 2012
relate to the common stock of Express Scripts.
Fiscal Year 2013 Fiscal Year 2012
Common Stock High Low High Low
First Quarter $ 60.08 $ 53.05 $ 55.34 $ 45.66
Second Quarter 64.08 54.57 58.98 50.31
Third Quarter 67.66 60.80 64.46 53.61
Fourth Quarter 70.79 59.20 66.06 49.79
Holders. As of January 15, 2014, there were 56,648 stockholders of record of our common stock. We estimate that
there are approximately 708,637 beneficial owners of our common stock.
Dividends. The Board of Directors has not declared any cash dividends on our common stock since our initial
public offering and does not currently intend to declare any cash dividends in the foreseeable future.
Recent Sales of Unregistered Securities
None.
Issuer Purchases of Equity Securities
The following is a summary of our stock repurchasing activity during the three months ended December 31, 2013
(share data in millions):
Period
Total number
of
shares
purchased
Average price
paid per share
Total number of
shares purchased
as part of a
publicly
announced
program
Maximum number
of shares
that may yet be
purchased under
the program
10/1/2013 - 10/31/2013 1.3 $ 62.27 1.3 50.0
11/1/2013 - 11/30/2013 13.6 65.20 13.6 36.4
12/1/2013 - 12/31/2013 20.6 67.16 (1) 20.6 15.8 (2)
Fourth Quarter 2013 Total 35.5 $ 66.23 (1) 35.5
(1) Includes the average price paid per share for the 20.1 million shares received by the Company on December 9, 2013
under the 2013 ASR Program. The final price per share paid for the shares will be determined based on the forward
price determined in accordance with the 2013 ASR Agreement. See Note 9 - Common stock for further information
regarding the 2013 ASR Program and the 2013 ASR Agreement. In December 2013, the Company additionally
repurchased 0.5 million shares on the open market with an average price of $67.02 per share. For the fourth quarter of
2013, the average price of shares purchased in the open market, excluding the 2013 ASR Program shares, was $65.01
per share.
(2) Excludes the effect of shares that may be delivered upon the settlement of the 2013 ASR Program. In the event the
Company will deliver shares upon such settlement, the number of shares that remain available to be repurchased will
increase.