SanDisk 2013 Annual Report Download - page 137

PART II
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS
AND ISSUER PURCHASES OF EQUITY SECURITIES
Market For Our Common Stock. Our common stock is traded on the NASDAQ Global Select Market, or
NASDAQ, under the symbol ‘‘SNDK.’’ The following table summarizes the high and low sale prices for
our common stock as reported by NASDAQ for our two most recent fiscal years.
High Low
2012
First quarter ................................................. $ 53.08 $ 45.43
Second quarter ............................................... 50.07 30.99
Third quarter ................................................ 46.99 32.08
Fourth quarter ............................................... 46.84 38.47
2013
First quarter ................................................. $ 56.49 $ 42.30
Second quarter ............................................... 63.73 50.68
Third quarter ................................................ 63.97 53.09
Fourth quarter ............................................... 70.93 58.58
Holders. As of January 31, 2014, we had approximately 261 stockholders of record.
Dividends. In the third quarter of fiscal year 2013, our Board of Directors declared our first ever
dividend. A second dividend was declared in the fourth quarter of fiscal year 2013. We paid a total of
$101 million in cash for these two dividends during fiscal year 2013.
Issuer Purchases of Equity Securities. The table below summarizes information about our purchases of
equity securities registered pursuant to Section 12 of the Exchange Act based upon settlement date during
the three fiscal months ended December 29, 2013 (in millions, except share and per share amounts).
Approximate
Total Number of Dollar Value of
Shares Purchased Shares that May
as Part of Publicly Yet Be Purchased
Total Number of Average Price Paid Announced Plans Under the Plans or
Period Shares Purchased(a) per Share(b) or Programs(a) Programs(a)
September 30, 2013 to
October 27, 2013 ......... — $ — —
October 28, 2013 to
November 24, 2013 ....... 2,196,514 68.29 2,196,514
November 25, 2013 to
December 29, 2013 ....... — — —
Total ................... 2,196,514 2,196,514 $ 1,927
(a) During the three months ended September 29, 2013, our Board of Directors increased the share repurchase
program authorization by $2.50 billion, to an aggregate amount of $3.75 billion, for stock repurchases in the open
market or otherwise. The program does not obligate us to acquire any specific number of shares. Under the
program, shares may be repurchased in privately negotiated and/or open market transactions, including under
plans complying with Rule 10b5-1 of the Exchange Act.
(b) Does not include amounts paid for commissions.
On July 31, 2013, we entered into an accelerated share repurchase program, or ASR, agreement with
a financial institution to purchase $1.0 billion of our common stock. In exchange for up-front payments
totaling $1.0 billion, the financial institution committed to deliver shares during the ASR’s purchase
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Annual Report