SunTrust 2014 Annual Report Download - page 45

22
Share repurchases during the year ended December 31, 2014:
Common Stock 1
Total number of
shares purchased 2Average price paid per share
Number of
shares purchased
as part of
publicly
announced plans
or programs
Approximate dollar
value of shares
that may yet be
purchased under
the plans or programs
at period end
($ in millions)
January 1 - 31 31,354,345 $36.92 1,354,345 $—
February 1 - 28 — — — —
March 1 - 31 17,940 37.36 — —
Total during first quarter of 2014 1,372,285 36.92 1,354,345 —
April 1 - 30 2,009,900 39.76 2,009,900 370
May 1 - 31 79,000 37.96 79,000 367
June 1 - 30 — — — 367
Total during second quarter of 2014 2,088,900 39.69 2,088,900 367
July 1 - 31 1,872,900 40.04 1,872,900 292
August 1 - 31 263,200 37.99 263,200 282
September 1 - 30 43,344,700 38.87 — 282
Total during third quarter of 2014 5,480,800 39.23 2,136,100 282
October 1 - 31 2,924,190 37.62 2,924,190 172
November 1 - 30 — — — 172
December 1 - 31 — — — 172
Total during fourth quarter of 2014 2,924,190 37.62 2,924,190 172
Total year-to-date 2014 11,866,175 $38.65 8,503,535 $172
1 On March 26, 2014, the Company announced that the Federal Reserve had no objections to the repurchase of up to $450 million of the Company's outstanding common stock,
to be completed between April 1, 2014 and March 31, 2015, as part of the Company's capital plan submitted in connection with the 2014 CCAR. The repurchases are limited to
the extent that the Company's issuances of capital stock, including employee share-based compensation, are less than the amount indicated in the 2014 CCAR capital plan. During
2014, the Company repurchased approximately $278 million of its outstanding common stock at market value as part of this publicly announced plan. Additionally, during
January 2015, the Company repurchased $50 million of its outstanding common stock at market value, and the Company expects to repurchase between $60 million and $70
million of additional outstanding common stock through the end of the first quarter of 2015, which would complete the repurchase of authorized shares as approved by the Board
and the Federal Reserve in conjunction with the 2014 capital plan.
2 Includes shares repurchased pursuant to SunTrust's employee stock option plans, pursuant to which participants may pay the exercise price upon exercise of SunTrust stock
options by surrendering shares of SunTrust common stock, which the participant already owns. SunTrust considers shares so surrendered by participants in SunTrust's employee
stock option plans to be repurchased pursuant to the authority and terms of the applicable stock option plan rather than pursuant to publicly announced share repurchase programs.
During 2014, 17,940 shares of SunTrust common stock were surrendered by participants in SunTrust's employee stock option plans at an average price of $37.36 per share.
3 During January 2014, the Company repurchased $50 million of its outstanding common stock at market value, which completed the repurchase of authorized shares as approved
by the Board and the Federal Reserve in conjunction with the 2013 capital plan. The 2013 capital plan was initially announced on March 14, 2013 and effectively expired on
March 31, 2014.
4 During September 2014, the Company repurchased $130 million of its outstanding common stock at market value upon receiving a non-objection from the Federal Reserve.
This repurchase was incremental to and separate from the Company's March 26, 2014 announced repurchase of up to $450 million of the Company's outstanding common stock
to be completed between April 1, 2014 and March 31, 2015, as part of the Company's capital plan submitted in connection with the 2014 CCAR.