Starwood 2006 Annual Report Download - page 31

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Conversion of Securities; Sale of Unregistered Securities
In 2006, we completed the redemption of the remaining 25,000 outstanding shares of Class B Exchangeable
Preferred Shares (“Class B EPS”) for approximately $1 million in cash. Also in 2006, in connection with the Host
Transaction, we redeemed all of the Class A Exchangeable Preferred Shares (“Class A EPS”) (approximately
562,000 shares) and Realty Partnership units (approximately 40,000 units) for approximately $34 million in cash.
SLC Operating Limited Partnership units are convertible into Shares at the unit holder’s option, provided that the
Company has the option to settle conversion requests in cash or Shares. In 2006, we redeemed approximately
926,000 SLC Operating Limited Partnership units for approximately $56 million in cash, and there were
approximately 179,000 of these units outstanding at December 31, 2006.
Issuer Purchases of Equity Securities
Pursuant to the Share Repurchase Program, Starwood repurchased 21.7 million Shares and Corporation Shares
in the open market for an aggregate cost of $1.263 billion during 2006. The Company repurchased the following
Corporation Shares during the three months ended December 31, 2006:
Period
Total
Number of
Shares
Purchased
Average
Price
Paid for
Share
Total Number of Shares
Purchased as Part
of Publicly Announced
Plans or Programs
Maximum Number (or
Approximate Dollar
Value) of Shares that
May Yet Be Purchased
Under the Plans or
Programs (in millions)
October.......................... — $ — — $414
November ........................ 581,600 $58.82 581,600 $380
December ........................ — $ — — $380
Total ............................ 581,600 581,600
Information relating to securities authorized for issuance under equity compensation plans is provided under
Item 12 of this Annual Report and is incorporated herein by reference.
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