Travelers 2006 Annual Report Download - page 78

66
ISSUER PURCHASES OF EQUITY SECURITIES
The table below sets forth information regarding repurchases by theCompany of its common stock
during the periods indicated.
Period Beginning Period Ending
Total number of
shares
purchased
Average price paid
per share
Total number of
shares purchased
as part of
publicly announced
plans or programs
Maximum
dollar value of
shares that may
yet be purchased
under the
plans or programs
Oct. 1, 2006Oct. 31, 2006 1,192,313 $ 50.55987,400 $ 1,578,980,445
Nov. 1,2006Nov. 30, 2006 10,703,006 51.9310,358,536 1,040,954,588
Dec. 1, 2006 Dec. 31, 2006 3,135,134 52.733,073,625 878,945,168
Total 15,030,453 $51.9914,419,561 $878,945,168
The Company repurchased 610,892 shares that were not part of the publicly announced share
repurchase program, representing shares repurchased to cover payroll withholding taxes in connection
with the vesting of restricted stock awards and exercises of stock options, and shares used to cover the
exercise price of certain stock options that were exercised. The Company’s $2 billion share repurchase
program (the program), which has no expiration date, was approved and announced by the Company’s
Board of Directors on May 2, 2006. During 2006, the Company repurchased a total of 22.8 million shares
for a total cost of $1.12 billion under the program, and had $879 million of remaining capacity under the
program at December 31, 2006. In January 2007, the Company’s board of directors authorized a $3 billion
increase to the program.