Spirit Airlines 2014 Annual Report Download - page 31

Download and view the complete annual report

Please find page 31 of the 2014 Spirit Airlines 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 99

  • 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

31
Our Repurchases of Equity Securities
The following table reflects our repurchases of our common stock during the fourth quarter of 2014. All stock
repurchases during this period were made from employees who received restricted stock grants. All stock repurchases were
made at the election of each employee pursuant to an offer to repurchase by us. In each case, the shares repurchased constituted
the portion of vested shares necessary to satisfy minimum withholding tax requirements.
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 Plans or
Programs
October 1-31, 2014 . . . . . . . . . . . 1,107 $ 63.20 — —
November 1-30, 2014 . . . . . . . . . 771 $ 76.04 — —
December 1-31, 2014 . . . . . . . . . — N/A — —
Total . . . . . . . . . . . . . . . . . . . . 1,878 $ 69.62 — —
During the first three quarters of 2014, we repurchased and retired 26,017 shares for a total of $1.5 million. All stock
repurchases were made at the election of each employee pursuant to an offer to repurchase by us. In each case, the shares
repurchased constituted the portion of vested shares necessary to satisfy withholding tax requirements. We did not make any
open market stock repurchases during 2014.
In December 2014, the Company's Board of Directors authorized the repurchase of up to $100 million of the Company's
common stock, par value of $0.0001 per share, from time to time in the open market or privately negotiated transactions over
the twelve months ending December 16, 2015. The timing and amount of any stock repurchase is subject to prevailing market
conditions and other considerations. As of December 31, 2014, we had made no repurchases under this program.