Travelers 2010 Annual Report Download - page 79

ISSUER PURCHASES OF EQUITY SECURITIES
The table below sets forth information regarding repurchases by the Company of its common stock
during the periods indicated.
Approximate
Total number of dollar value of
shares purchased shares that may
Total number as part of yet be purchased
of shares Average price paid publicly announced under the
Period Beginning Period Ending purchased per share plans or programs plans or programs
Oct. 1, 2010 ...... Oct. 31, 2010 5,090,730 $54.15 5,078,070 $2,834,442,543
Nov. 1, 2010 ...... Nov. 30, 2010 13,053,782 55.75 12,853,247 2,118,138,783
Dec. 1, 2010 ...... Dec. 31, 2010 11,018,077 55.26 11,017,000 1,509,393,537
Total .......... 29,162,589 $55.29 28,948,317 $1,509,393,537
The Company’s board of directors has approved common share repurchase authorizations under
which repurchases may be made from time to time in the open market, pursuant to pre-set trading
plans meeting the requirements of Rule 10b5-1 under the Securities Exchange Act of 1934, in private
transactions or otherwise. The authorizations do not have a stated expiration date. The timing and
actual number of shares to be repurchased in the future will depend on a variety of factors, including
the Company’s financial position, earnings, catastrophe losses, capital requirements of the Company’s
operating subsidiaries, legal requirements, regulatory constraints, other investment opportunities
(including mergers and acquisitions), market conditions and other factors. In January 2011, the board
of directors approved a share repurchase authorization that added an additional $5 billion of
repurchase capacity to the $1.51 billion of capacity remaining at December 31, 2010.
The Company repurchased 214,272 shares during the three months ended December 31, 2010 that
were not part of the publicly announced share repurchase authorization. These shares were
repurchased to cover payroll withholding taxes in connection with the vesting of restricted stock awards
and exercises of stock options, and shares used by employees to cover the exercise price of certain
stock options that were exercised.
Information relating to compensation plans under which the Company’s equity securities are
authorized for issuance is set forth in Part III—Item 12 of this Report.
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