Thrifty Car Rental 2007 Annual Report Download - page 77

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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, 2005 - -$
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 - -
Granted 22 46.90
Vested (22) 46.90
Forfeited - -
Nonvested at December 31, 2007 - -$
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 $300 million share repurchase program to replace the existing $100 million program.
In 2007, the Company repurchased 2,304,406 shares of common stock at an average price of
$31.05 per share totaling $71,543,000. 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. Since inception of
the share repurchase programs, the Company has repurchased 6,414,906 shares of common stock
at an average price of $35.48 per share totaling approximately $227,569,000, all of which were
made in open market transactions. At December 31, 2007, the $300 million share repurchase
program had $117,149,000 of remaining authorization that extends through December 31, 2008.
Due to weak economic and industry conditions, the Company has currently suspended repurchasing
shares under its share repurchase program.
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