Panera Bread 2015 Annual Report Download - page 29

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19
PART II
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS, AND
ISSUER PURCHASES OF EQUITY SECURITIES
Market Information and Dividend Policy
Our Class A common stock is listed on The Nasdaq Global Select Market (“Nasdaq”) under the symbol “PNRA.” There is no
established public trading market for our Class B common stock. For the periods indicated, the following table sets forth the
quarterly high and low sale prices per share of our Class A common stock as reported by Nasdaq.
For the fiscal year ended
December 29, 2015 December 30, 2014
High Low High Low
First Quarter. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 176.62 $ 153.68 $ 190.38 $ 164.46
Second Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 186.80 $ 162.52 $ 173.67 $ 147.94
Third Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 204.48 $ 174.51 $ 162.72 $ 143.35
Fourth Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 197.68 $ 166.26 $ 176.19 $ 159.89
On February 17, 2016, the last sale price for our Class A common stock, as reported on the Nasdaq Global Select Market, was
$207.03. As of February 17, 2016, we had 985 holders of record of our Class A common stock and 22 holders of record of our
Class B common stock.
We periodically evaluate various options for the use of our capital, including the potential issuance of dividends. We have never
paid cash dividends on our capital stock and we do not have current plans to do so.
Issuer Purchases of Equity Securities
The following table provides information regarding repurchases of our Class A common stock during the fourth quarter of fiscal
2015:
Period
Total Number
of Shares
Purchased (1)
Average Price
Paid per Share
Total Number of Shares
Purchased as Part of
Publicly Announced Plans
or Programs (2)
Approximate Dollar
Value of Shares that May
Yet Be Purchased Under
the Plans or Programs (2)
September 30, 2015 - October 27, 2015. . 228,114 $ 189.41 228,100 $ 365,244,708
October 28, 2015 - December 1, 2015 . . . 331,888 $ 176.21 330,700 $ 306,972,892
December 2, 2015 - December 29, 2015 .124,255 $ 189.17 124,251 $ 283,468,868
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . 684,257 $ 182.96 683,051
(1) Includes 1,206 shares of Class A common stock surrendered by participants under the Panera Bread 2006 Stock Incentive
Plan, as amended, as payment of applicable tax withholding on the vesting of restricted stock. Shares so surrendered by the
participants are repurchased by us pursuant to the terms of those plans and the applicable award agreements and not pursuant
to publicly announced share repurchase authorizations.
(2) Share repurchase authorization of up to $600 million of our Class A common stock approved by the Board of Directors and
announced on June 5, 2014 and increased to $750 million on April 15, 2015, pursuant to which we may repurchase shares
from time to time on the open market or in privately negotiated transactions and which may be made under a Rule 10b5-1
plan. Repurchased shares may be retired immediately and resume the status of authorized but unissued shares or may be held
by us as treasury stock. The share repurchase authorization may be modified, suspended or discontinued by our Board of
Directors at any time.