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JETBLUE AIRWAYS CORPORATION-2015Annual Report 21
PART II
ITEM5. Market for Registrant’s Common Equity;
Related Stockholder Matters and Issuer
Purchases of Equity Securities
Market Information and Stockholder Matters
Our common stock is traded on the NASDAQ Global Select Market under the symbol JBLU. The table below shows the high and low sales prices for
our common stock.
High Low
2015 Quarter Ended
March 31 $ 19.58 $ 14.38
June 30 21.83 18.56
September 30 27.02 20.06
December 31 26.86 22.65
2014 Quarter Ended
March 31 $ 9.37 $ 8.32
June 30 10.88 7.63
September 30 12.73 10.40
December 31 15.90 9.41
As of January31, 2016, there were approximately 485 holders of record of our common stock.
We have not paid cash dividends on our common stock and have no current intention to do so. Any future determination to pay cash dividends would
be at the discretion of our Board of Directors, subject to applicable limitations under Delaware law. This decision would be dependent upon our results
of operations, financial condition and other factors deemed relevant by our Board of Directors.
Purchases of Equity Securities by the Issuer and Affiliated Purchases
In September 2012, the Board authorized a five year share repurchase program of up to 25 million shares. As of December31, 2015, approximately
3.5 million shares remain available for repurchase under the program. The program may be commenced or suspended from time to time without prior
notice. Shares repurchased under our share repurchase program are purchased in open market transactions and are held as treasury stock. During
2015, the following shares were repurchased under the program (in millions, except per share data):
Period
Total Number of
Shares Purchased
Average price
paid per share
Total number of shares purchased as
part of publicly announced program(2)
Maximum number of shares that may yet
to be purchased under the program (2) (3)
June 2015 6.1(1) 6.1 7.2
September 2015 0.7(1) 0.7 6.5
October 2015 0.3 $ 25.07 0.3 6.2
November 2015 2.7 $ 25.78 2.7 3.5
TOTAL 9.8 9.8
(1) On June 16, 2015, JetBlue entered into an accelerated share repurchase, or ASR, agreement with Goldman, Sachs & Co. paying $150 million for an initial delivery of approximately
6.1 million shares. The term of the ASR concluded on September 15, 2015 with Goldman, Sachs & Co. delivering approximately 0.7 million additional shares to JetBlue on September18,2015.
A total of approximately 6.8 million shares was repurchased under the agreement at an average price per share of $22.06. The total shares purchased by JetBlue were based on the volume
weighted average prices of JetBlue’s common stock during the term of the ASR.