Redbox 2011 Annual Report Download - page 76

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The following repurchases were made during the past three years, dollars in thousands except per share price:
Year Ended December 31,
# of shares
Repurchased
Average
Price
per Share
Total
Purchase
Price
2009 ....................................... — $ — $ —
2010 ....................................... 1,072,037 45.94 49,245
2011 ....................................... 1,374,036 46.10 63,349
Total .................................. 2,446,073 $112,594
Repurchased shares become a part of treasury stock. The shares tendered for tax withholding on vesting of
restricted stock awards are excluded from the repurchase program approved by our Board.
New Credit Facility Requirements
Under the New Credit Facility, we are permitted to repurchase shares of our common stock without limitation,
provided that we are in compliance with certain covenants required under the terms of the New Credit Facility.
See Note 8: Debt and Other Long-Term Liabilities for additional information about the terms of the New Credit
Facility.
ASR Agreement
On February 15, 2011, we entered into an ASR Agreement with Morgan Stanley & Co at a notional amount of
$50.0 million. The ASR Agreement was settled on May 19, 2011. The total number of shares received under the
ASR Agreement was determined based on a discount to the daily volume weighted average price of our common
stock over the term of the ASR Agreement.
Repurchase amounts in thousands
Shares
Delivered
Average
Price
Repurchase
Amount
Shares received on 2/15/2011 when ASR Agreement
was executed ............................... 377,660 $47.32 $17,869
Shares received on 5/19/2011 when ASR Agreement
was settled ................................. 679,078 47.32 32,131
Total ................................... 1,056,738 $50,000
As the ASR Agreement was concluded, the additional shares received were recorded as treasury shares, resulting
in a reduction of shares for our earnings per share calculations.
NOTE 10: SHARE-BASED PAYMENTS
We grant share-based awards to our employees, non-employee directors and consultants under our 1997
Amended and Restated Equity Incentive Plan and our 2011 Incentive Plan (the “Plans”). The Plans permit the
granting of stock options, restricted stock, restricted stock units, and performance-based restricted stock.
The following is the summary of grant information:
Shares in thousands
December 31,
2011
Unissued common stock reserved for issuance under all
plans ........................................ 2,992
Shares available for future grants .................... 2,005
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