TCF Bank 2014 Annual Report Download - page 29

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Repurchases of TCF Stock
The following table summarizes share repurchase activity for the quarter ended December 31, 2014.
Total Maximum
Number of Shares Number of Shares
Total Average Purchased as that May Yet
Number of Shares Price Paid Part of Publicly be Purchased
Purchased Per Share Announced Plan Under the Plan
October 1 to October 31, 2014:
Share repurchase program(1) – $ – – 5,384,130
Employee transactions(2) 4,603 15.43 N.A. N.A.
November 1 to November 30, 2014:
Share repurchase program(1) – – – 5,384,130
Employee transactions(2) – – N.A. N.A.
December 1 to December 31, 2014:
Share repurchase program(1) – – – 5,384,130
Employee transactions(2) – – N.A. N.A.
Total:
Share repurchase program(1) – $ – – 5,384,130
Employee transactions(2) 4,603 15.43 N.A. N.A.
N.A. Not Applicable.
(1) The current share repurchase authorization was approved by the Board of Directors on April 14, 2007 and was announced in a press release
dated April 16, 2007. The authorization was for a repurchase of up to an additional 5% of TCF’s common stock outstanding at the time of the
authorization, or 6.5 million shares. TCF has not repurchased shares since October 2007. Future repurchases will be based upon capital levels,
growth expectations and market opportunities and may be subject to regulatory approval. The ability to repurchase shares in the future may be
adversely affected by new legislation or regulations or by changes in regulatory policies. This authorization does not have an expiration date.
(2) Represents restricted stock withheld pursuant to the terms of awards under the TCF Financial Incentive Stock Program to offset tax
withholding obligations that occur upon vesting and release of restricted stock. The TCF Financial Incentive Stock Program provides that the
value of shares withheld shall be the average of the high and low prices of common stock of TCF Financial Corporation on the date the relevant
transaction occurs.
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