Travelers 2014 Annual Report Download - page 79

Table of Contents
ISSUER PURCHASES OF EQUITY SECURITIES
The table below sets forth information regarding repurchases by the Company of its common stock during the periods indicated.
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, share price, catastrophe losses,
maintaining capital levels commensurate with the Company's desired ratings from independent rating agencies, funding of the Company's qualified
pension plan, capital requirements of the Company's operating subsidiaries, legal requirements, regulatory constraints, other investment
opportunities (including mergers and acquisitions and related financings), market conditions and other factors.
The Company acquired 7,746 shares for a total cost of approximately $0.7 million during the three months ended December 31, 2014 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.
78
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
Approximate
dollar value of
shares that may
yet be purchased
under the
plans or programs
(in millions)
Oct. 1, 2014
Oct. 31, 2014
1,745,016
$
99.03
1,739,766
$
2,312
Nov. 1, 2014
Nov. 30, 2014
4,247,784
102.69
4,246,164
1,876
Dec. 1, 2014
Dec. 31, 2014
3,741,061
104.72
3,740,185
1,484
Total
9,733,861
102.81
9,726,115
1,484