Sears 2006 Annual Report Download - page 17

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Purchase of Equity Securities
The following table provides information about shares of common stock the Company acquired during the
fourth quarter of fiscal 2006, including shares assigned to the Company as part of settlement agreements
resolving claims arising from the Chapter 11 reorganization of the Predecessor Company. During the 14 weeks
ended February 3, 2007, the Company repurchased 0.1 million of its common shares at a total cost of $14 million
under a common share repurchase program. The program was initially announced in 2005 with a total
authorization by the Company’s Board of Directors of up to $1.0 billion. During fiscal 2006, the Board of
Directors authorized the repurchase of up to an additional $1.0 billion of common stock for a total authorization
of $2.0 billion. As of February 3, 2007, the Company had approximately $604 million of remaining authorization
under this program.
Total
Number of
Shares
Purchased(1)
Average
Price Paid
per Share
Total Number of
Shares Purchased
as Part of Publicly
Announced
Program
Average Price
Paid per Share for
Publicly
Announced
Program
Approximate
Dollar Value of
Shares that May
Yet Be Purchased
Under the Program
October 29, 2006 to
November 25, 2006 ......... 783 $174.20 — $ —
November 26, 2006 to
December 30, 2006 ......... 312 167.79 — —
December 31, 2006 to
February 3, 2007 ........... 97,343 165.95 82,463 164.91
Total ...................... 98,438 $166.03 82,463 $164.91 $604,000,000
(1) Includes 6,706 shares acquired from associates to meet withholding tax requirements from the vesting of
restricted stock. In addition, the Company recognized recoveries of $2 million in the quarter ended
February 3, 2007 related to vendors who had received cash payments for pre-petition obligations (critical
vendor claims) or preference payments. In conjunction with these recoveries, the Company was assigned
9,269 shares of common stock with a weighted average price of $168.39. These shares were acquired during
the quarter as follows:
October 29, 2006 to November 25, 2006 .................................. 783
November 26, 2006 to December 30, 2006 ................................ 312
December 31, 2006 to February 3, 2007 .................................. 14,880
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