Quest Diagnostics 2013 Annual Report Download - page 40

Download and view the complete annual report

Please find page 40 of the 2013 Quest Diagnostics annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 131

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131

36
The table below sets forth the information with respect to purchases made by or on behalf of the Company of its
common stock during the fourth quarter of 2013.
ISSUER PURCHASES OF EQUITY SECURITIES
Period
Total Number
of
Shares
Purchased
Average Price
Paid per Share
Total Number
of
Shares
Purchased
as Part of
Publicly
Announced
Plans
or Programs
Approximate
Dollar Value of
Shares that
May
Yet Be
Purchased
Under the Plans
or Programs
(in thousands)
October 1, 2013 – October 31, 2013
Share Repurchase Program (A) — $ — — $ 940,959 (D)
Employee Transactions (B) 1,680 $ 60.84 N/A N/A
November 1, 2013 – November 30, 2013
Share Repurchase Program (A) — $ — — $ 940,959 (D)
Employee Transactions (B) 143 $ 62.40 N/A N/A
December 1, 2013 – December 31, 2013
Share Repurchase Program (A)(C) 1,888,527 $ 59.58 1,888,527 $ 828,444 (D)
Employee Transactions (B) 9,558 $ 54.89 N/A N/A
Total
Share Repurchase Program (A)(C) 1,888,527 $ 59.58 1,888,527 $ 828,444 (D)
Employee Transactions (B) 11,381 $ 55.86 N/A N/A
(A) Since the share repurchase program's inception in May 2003, our Board of Directors has authorized $6.5 billion of share
repurchases of our common stock through December 31, 2013. The share repurchase authority has no set expiration or
termination date.
(B) Includes: (1) shares delivered or attested to in satisfaction of the exercise price and/or tax withholding obligations by
holders of stock options (granted under the Company's Amended and Restated Employee Long-Term Incentive Plan and its
Amended and Restated Director Long-Term Incentive Plan, collectively the “Stock Compensation Plans”) who exercised
options; and (2) shares withheld (under the terms of grants under the Stock Compensation Plans) to offset tax withholding
obligations that occur upon the delivery of outstanding common shares underlying restricted share units and performance
share units.
(C) Includes the reclassification of $70 million from additional paid-in capital to treasury stock and the final delivery of 1.1
million shares associated with the completion of the September 2013 accelerated share repurchase agreement ("ASR").
See Note 15 to the consolidated financial statements for further information regarding the ASR.
(D) In August 2013, the Board of Directors of the Company authorized the Company to repurchase an additional $1.0 billion
of the Company's common stock, bringing the total amount that the Company was authorized to repurchase to $1.3 billion
at that time.