SunTrust 2015 Annual Report Download - page 47

19
Equity Securities
Issuer purchases of equity securities during the year ended December 31, 2015 are presented in the following table:
Common Stock
Total number of shares
purchased
Average 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 1,298,650 $38.75 1,298,650 $122
February 1 - 28 918,400 41.20 918,400 84
March 1 - 31 655,800 41.17 655,800 —
Total during first quarter of 2015 2,872,850 40.08 2,872,850 —
April 1 - 30 4,212,832 41.54 4,212,832 700
May 1 - 31 — — — 700
June 1 - 30 — — — 700
Total during second quarter of 2015 4,212,832 41.54 4,212,832 700
July 1 - 31 4,024,321 43.49 4,024,321 525
August 1 - 31 — — — 525
September 1 - 30 — — — 525
Total during third quarter of 2015 4,024,321 43.49 4,024,321 525
October 1 - 31 4,496,969 38.92 4,496,969 350
November 1 - 30 122,182 43.57 — 350
December 1 - 31 2898,741 43.39 — 350
Total during fourth quarter of 2015 5,417,892 39.68 4,496,969 350
Total year-to-date 2015 16,527,895 $41.15 15,606,972 $350
1 During November 2015, 22,182 shares of SunTrust common stock were surrendered at an average price of $43.57 per share by participants in SunTrust's employee stock
option plans, where 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.
2 During December 2015, the Company repurchased $39 million of its outstanding common stock at market value. This purchase was incremental to and separate from the
Company's March 11, 2015 announced repurchase of up to $875 million of the Company's outstanding common stock to be completed between April 1, 2015 and June 30,
2016, as part of the Company's capital plan submitted in connection with the 2015 CCAR.
During the first quarter of 2015, the Company completed its
repurchase of shares pursuant to its 2014 CCAR capital plan,
which the Company initially announced on March 26, 2014 and
which effectively expired on March 31, 2015.
On March 11, 2015, the Company announced that the
Federal Reserve had no objections to the repurchase of up to
$875 million of the Company's outstanding common stock to be
completed between April 1, 2015 and June 30, 2016, as part of
the Company's capital plan submitted in connection with the
2015 CCAR. During 2015, the Company repurchased
approximately $525 million of its outstanding common stock at
market value as part of this publicly announced plan. At
December 31, 2015, the Company had $350 million of remaining
common stock repurchase capacity under its 2015 capital plan
(reflected in the table above). During January and February of
2016, the Company repurchased an additional $151 million of
its outstanding common stock at market value and $24 million
of its common stock warrants as part of this 2015 capital plan.
The Company expects to repurchase approximately $175 million
of additional outstanding common stock through the end of the
second quarter of 2016, which would complete its share
repurchases under the 2015 capital plan.
SunTrust did not repurchase any shares of its Series A
Preferred Stock Depositary Shares, Series B Preferred Stock,
Series E Preferred Stock Depositary Shares, Series F Preferred
Stock Depositary Shares, or warrants to purchase common stock
during the year ended December 31, 2015, and there was no
unused Board authority to repurchase any shares of Series A
Preferred Stock Depositary Shares, Series B Preferred Stock,
Series E Preferred Stock Depositary Shares, or the Series F
Preferred Stock Depositary Shares.
See Note 13, "Capital," to the Consolidated Financial
Statements in Item 8 of this Form 10-K for additional information
regarding the Company's equity securities.