Travelers 2007 Annual Report Download - page 78

ISSUER PURCHASES OF EQUITY SECURITIES
The table below sets forth information regarding repurchases by the Company of its common stock
during the periods indicated.
Maximum
Total number of dollar value of
shares purchased shares that may
Total number of as part of yet be purchased
shares Average price paid publicly announced under the
Period Beginning Period Ending purchased per share plans or programs plans or programs
Oct. 1, 2007 ..... Oct. 31, 2007 3,401,195 $52.92 3,283,940 $1,758,356,131
Nov. 1, 2007 .... Nov. 30, 2007 9,790,857 51.79 9,709,073 1,255,522,761
Dec. 1, 2007 .... Dec. 31, 2007 6,043,294 53.76 6,015,200 932,186,671
Total ........ 19,235,346 $52.61 19,008,213 $ 932,186,671
The Company repurchased 227,133 shares during this three-month period that were not part of the
publicly announced share repurchase authorization, 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 share repurchase authorization, which has no expiration date, was first approved and
announced by the Company’s board of directors in May 2006. The original authorized repurchase
capacity was $2 billion; in January 2007, the board of directors authorized an additional $3 billion of
repurchase capacity. Through December 31, 2007, the Company had repurchased a cumulative total of
78.8 million shares for a total cost of $4.07 billion, and had $932 million of remaining capacity at
December 31, 2007 under the authorization. In January 2008, the board of directors authorized an
additional $5 billion for share repurchases.
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