Travelers 2011 Annual Report Download - page 81

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, 2011 ...... Oct. 31, 2011 3,058,345 $57.92 3,051,200 $4,620,488,381
Nov. 1, 2011 ...... Nov. 30, 2011 9,211,163 56.61 9,208,800 4,099,148,899
Dec. 1, 2011 ...... Dec. 31, 2011 8,678,437 56.45 8,677,476 3,609,307,041
Total .......... 20,947,945 $56.74 20,937,476 $3,609,307,041
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, capital requirements of the Company’s operating
subsidiaries, legal requirements, regulatory constraints, share price, catastrophe losses, funding of the
Company’s qualified pension plan, other investment opportunities (including mergers and acquisitions),
market conditions and other factors.
The Company acquired 10,469 shares during the three months ended December 31, 2011 that were
not part of the publicly announced share repurchase authorization. These shares consisted of shares
retained to cover payroll withholding taxes in connection with the vesting of restricted stock awards 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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