Sears 2008 Annual Report Download - page 18

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Purchase of Equity Securities
The following table provides information about shares of common stock we acquired during the fourth
quarter of fiscal 2008, including shares assigned to us as part of settlement agreements resolving claims arising
from the Chapter 11 reorganization of Kmart Corporation. During the 13 weeks ended January 31, 2009, we
repurchased 2.9 million of our common shares at a total cost of $120 million under our common share repurchase
program. As of January 31, 2009, we had $505 million of remaining authorization under the program.
Total
Number of
Shares
Purchased(1)
Average
Price Paid
per Share
Total Number of
Shares
Purchased
as Part of
Publicly
Announced
Program(2)
Average Price
Paid per Share
for Publicly
Announced
Program
Approximate
Dollar Value of
Shares that
May Yet Be
Purchased
Under the
Program
November 2, 2008 to November 29,
2008 ........................... 1,252,183 $42.56 1,247,418 $42.51
November 30, 2008 to January 3,
2009 ........................... 1,599,078 39.53 1,599,078 39.53
January 4, 2009 to January 31, 2009 .... 100,434 41.15 99,025 41.17
Total ............................ 2,951,695 $40.87 2,945,521 $40.85 $505,000,000
(1) Includes 1,409 shares acquired from associates to meet withholding tax requirements from the vesting of
restricted stock. In addition, we were assigned 4,765 shares of common stock (weighted average price of
$54.69 per share) with an approximate value of $0.2 million from the share distribution related to the
Predecessor Company’s bankruptcy and reorganization (see Note 10 of Notes to Consolidated Financial
Statements for further information). These shares were acquired during the quarter as follows:
November 2, 2008 to November 29, 2008 .................................. 4,765
November 30, 2008 to January 3, 2009 .................................... —
January 4, 2009 to January 31, 2009 ...................................... 1,409
6,174
(2) Our common share repurchase program was initially announced on September 14, 2005 with a total
authorization by our Board of Directors of up to $500 million. Subsequently, we announced that our Board
of Directors authorized the repurchase of up to an additional $500 million of common stock on each of
October 14, 2005, April 5, 2006 and September 12, 2006, $1.0 billion of common stock on July 10, 2007,
$1.5 billion of common stock on August 13, 2007, and $500 million of common stock on each of May 29,
2008 and December 2, 2008 for a total authorization since inception of the program of $5.5 billion. The
program has no stated expiration date.
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