Thrifty Car Rental 2006 Annual Report Download - page 72

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The following table presents the status of the Company’s nonvested restricted stock units for the
periods indicated:
Weighted-Average
Shares Grant-Date
Nonvested Shares (In Thousands) Fair Value
Nonvested at January 1, 2004 - -$
Granted 25 24.75
Vested (25) 24.75
Forfeited - -
Nonvested at December 31, 2004 - -
Granted 25 34.45
Vested (25) 34.45
Forfeited - -
Nonvested at December 31, 2005 - -
Granted 28 38.06
Vested (28) 38.06
Forfeited - -
Nonvested at December 31, 2006 - -$
14. SHARE REPURCHASE PROGRAM
In July 2003, the Company announced that its Board of Directors had authorized spending up to $30
million to repurchase the Company’s shares of common stock over a two-year period in the open
market or in privately negotiated transactions. In December 2004, the Company expanded the
share repurchase program by authorizing spending up to $100 million for share repurchases through
December 2006. In February 2006, the Company announced that its Board of Directors had
authorized a new $300 million share repurchase program to replace the existing $100 million
program.
In 2006, the Company repurchased 2,558,900 shares of common stock at an average price of
$43.50 per share totaling $111,308,000. In 2005, the Company repurchased 681,300 shares of
common stock at an average price of $33.04 per share totaling $22,512,000. Since inception of the
share repurchase program, the Company has repurchased 4,110,500 shares of common stock at an
average price of $37.96 per share totaling approximately $156,026,000, all of which were made in
open market transactions. At December 31, 2006, the $300 million share repurchase program had
$188,692,000 of remaining authorization to be completed by December 31, 2008.
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