MetLife 2009 Annual Report Download - page 198

Repurchases
The table below presents the common stock repurchase programs authorized by the Holding Company’s Board of Directors and the
aggregate amount and number of shares of MetLife, Inc.’s common stock purchased pursuant to these authorizations:
Amount Shares Repurchased
(In millions)
Remaining authorization at December 31, 2006 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 216
February 2007 and September 2007 additional authorizations . . . . . . . . . . . . . . . . . . . 2,000
Accelerated share repurchases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,505) 23,455,124
Open market repurchases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (200) 3,171,700
Remaining authorization at December 31, 2007 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 511
January 2008 and April 2008 additional authorizations . . . . . . . . . . . . . . . . . . . . . . . . 2,000
Accelerated share repurchases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,162) 19,716,418
Open market repurchases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (88) 1,550,000
Remaining authorization at December 31, 2008 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,261
Additionalauthorizations............................................ —
Acceleratedsharerepurchases ....................................... —
Openmarketrepurchases........................................... —
Remaining authorization at December 31, 2009 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,261
Under these authorizations, the Holding Company may purchase its common stock from the MetLife Policyholder Trust, in the open market
(including pursuant to the terms of a pre-set trading plan meeting the requirements of Rule 10b5-1 under the Exchange Act) and in privately
negotiated transactions. Future common stock repurchases will be dependent upon several factors, including the Company’s capital
position, its financial strength and credit ratings, general market conditions and the price of MetLife, Inc.’s common stock. The Holding
Company does not intend to make any purchases under the common stock repurchase program in 2010.
Other
In September 2008, in connection with the split-off of RGA as described in Note 2, the Holding Company received from MetLife, Inc.
stockholders 23,093,689 shares of MetLife, Inc.’s common stock with a fair market value of $1,318 million and, in exchange, delivered
29,243,539 shares of RGA Class B common stock with a net book value of $1,716 million resulting in a loss on disposition, including
transaction costs, of $458 million.
Dividends
The table below presents declaration, record and payment dates, as well as per share and aggregate dividend amounts, for the common
stock:
Declaration Date Record Date Payment Date Per Share Aggregate
Dividend
(In millions, except
per share data)
October 29, 2009. . . . . . . . . . . . . . . . . . . . . . November 9, 2009 December 14, 2009 $0.74 $610
October 28, 2008. . . . . . . . . . . . . . . . . . . . . . November 10, 2008 December 15, 2008 $0.74 $592
October 23, 2007. . . . . . . . . . . . . . . . . . . . . . November 6, 2007 December 14, 2007 $0.74 $541
Stock-Based Compensation Plans
Description of Plans
The MetLife, Inc. 2000 Stock Incentive Plan, as amended (the “Stock Incentive Plan”), authorized the granting of awards to employees and
agents in the form of options to buy shares of the Holding Company’s common stock (“Stock Options”) that either qualify as incentive Stock
Options under Section 422A of the Code or are non-qualified. The MetLife, Inc. 2000 Directors Stock Plan, as amended (the “2000 Directors
Stock Plan”), authorized the granting of awards in the form of the Holding Company’s common stock, non-qualified Stock Options, or a
combination of the foregoing to non-management Directors of the Holding Company. Under the MetLife, Inc. 2005 Stock and Incentive
Compensation Plan, as amended (the “2005 Stock Plan”), awards granted to employees and agents may be in the form of Stock Options,
Stock Appreciation Rights, Restricted Stock or Restricted Stock Units, Performance Shares or Performance Share Units, Cash-Based
Awards and Stock-Based Awards (each as defined in the 2005 Stock Plan). Under the MetLife, Inc. 2005 Non-Management Director Stock
Compensation Plan (the “2005 Directors Stock Plan”), awards granted may be in the form of non-qualified Stock Options, Stock Appreciation
Rights, Restricted Stock or Restricted Stock Units, or Stock-Based Awards (each as defined in the 2005 Directors Stock Plan) to non-
management Directors of the Holding Company. The Stock Incentive Plan, 2000 Directors Stock Plan, 2005 Stock Plan and the 2005 Direc-
tors Stock Plan are hereinafter collectively referred to as the “Incentive Plans.”
The aggregate number of shares reserved for issuance under the 2005 Stock Plan is 68,000,000, plus those shares available but not
utilized under the Stock Incentive Plan and those shares utilized under the Stock Incentive Plan that are recovered due to forfeiture of Stock
F-114 MetLife, Inc.
MetLife, Inc.
Notes to the Consolidated Financial Statements — (Continued)