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Part II
Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER
MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Market Information
Lexmark’s Class A Common Stock is traded on the New York Stock Exchange under the symbol LXK. As of
February 20, 2009, there were 3,035 holders of record of the Class A Common Stock and there were no
holders of record of the Class B Common Stock. Information regarding the market prices of the Company’s
Class A Common Stock appears in Part II, Item 8, Note 19 of the Notes to Consolidated Financial
Statements.
Dividend Policy
The Company has never declared or paid any cash dividends on the Class A Common Stock and has no
current plans to pay cash dividends on the Class A Common Stock. The payment of any future cash
dividends will be determined by the Company’s board of directors in light of conditions then existing,
including the Company’s earnings, financial condition and capital requirements, restrictions in financing
agreements, business conditions, tax laws, certain corporate law requirements and various other factors.
Issuer Purchases of Equity Securities
Period
Total
Number of
Shares
Purchased
(2)(3)
Average Price Paid
Per Share
(2)(3)
Total Number of
Shares Purchased as
Part of Publicly
Announced Plans or
Programs
(2)(3)
Approximate Dollar
Value of Shares That
May Yet Be
Purchased Under the
Plans or Programs
(In Millions)
(1)(2)(3)
October 1-31, 2008 . . . . . . . . . 4,551,989 $23.62 4,551,989 $505.9
November 1-30, 2008 . . . . . . . . — — — 505.9
December 1-31, 2008 . . . . . . . . 658,585 22.78 658,585 490.9
Total . . . . . . . . . . . . . . . . . . . 5,210,574 $23.51 5,210,574
(1) In May 2008, the Company received authorization from the Board of Directors to repurchase an additional $750 million of its
Class A Common Stock for a total repurchase authority of $4.65 billion. As of December 31, 2008, there was approximately
$0.5 billion of share repurchase authority remaining. This repurchase authority allows the Company, at management’s discretion,
to selectively repurchase its stock from time to time in the open market or in privately negotiated transactions depending upon
market price and other factors. For the three months ended December 31, 2008, the Company repurchased approximately
5.2 million shares at a cost of $122.5 million through two accelerated share repurchase agreements (“ASR”) described in the
notes immediately below. As of December 31, 2008, since the inception of the program in April 1996, the Company had
repurchased approximately 91.6 million shares for an aggregate cost of approximately $4.2 billion.
(2) On August 28, 2008, the Company entered into an accelerated share repurchase agreement with a financial institution
counterparty. Under the terms of the ASR, the Company paid $150.0 million targeting 4.1 million shares based on an initial
price of $36.90. On September 3, 2008, the Company took delivery of 85% of the shares, or 3.5 million shares at a cost of
$127.5 million, and included these shares in the Company’s third quarter 10-Q repurchase table. On October 21, 2008, the
counterparty delivered 1.2 million additional shares in final settlement of the agreement, bringing the total shares repurchased
under the ASR to 4.7 million shares at an average price per share of $31.91. The delivery of the 1.2 million shares as well as the
recognition of the remaining 15% of the initial payment, or $22.5 million, are included in the October activity in the table above.
(3) On October 21, 2008, the Company entered into an accelerated share repurchase agreement with a financial institution
counterparty. Under the terms of the ASR, the Company paid $100.0 million targeting 3.9 million shares based on an initial price
of $25.71. On October 24, 2008, the Company took delivery of 85% of the shares, or 3.3 million shares at a cost of $85.0 million,
and has included these shares in the October activity in the table above. On December 26, 2008, the counterparty delivered
0.7 million additional shares in final settlement of the agreement, bringing the total shares repurchased under the ASR to
4.0 million shares at an average price per share of $25.22. The delivery of the 0.7 million shares as well as the recognition of the
remaining 15% of the initial payment, or $15.0 million, make up the December activity in the table above.
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