TripAdvisor 2015 Annual Report Download - page 31

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Dividends
Wehaveneverdeclaredorpaiddividendsanddonotexpecttopayanydividendsfortheforeseeablefuture.Ourabilitytopaydividendsislimitedbythe
termsofacreditagreement,datedasofJune26,2015,thatprovidesforarevolvingcreditfacility.See“Management’sDiscussionandAnalysisofFinancial
ConditionandResultsofOperations–2015CreditFacility”foradditionalinformationregardingourrevolvingcreditfacility.Anyfuturedeterminationastothe
declarationandpaymentofdividends,ifany,willbeatthediscretionofourBoardofDirectorsandwilldependonthen-existingconditions,includingourfinancial
condition,operatingresults,contractualrestrictions,capitalrequirements,businessprospectsandotherfactorsourBoardofDirectorsmaydeemrelevant.
Unregistered Sales of Equity Securities
EffectiveDecember28,2015,weissued801,042sharesofourcommonstocktoTheTripAdvisorCharitableFoundation(the“Foundation”)infull
satisfactionofallfutureannualcontributionobligationsunderthePledgeAgreementbetweentheCompanyandtheFoundation.Theseshareswereissuedina
privatetransactionexemptfromregistrationpursuanttoSection4(a)(2)oftheSecuritiesActof1933,asamended.
Exceptasnotedabove,duringtheyearendedDecember31,2015,wedidnotissueorsellanysharesofourcommonstock,ClassBcommonstockorother
equitysecuritiespursuanttounregisteredtransactionsinrelianceuponanexemptionfromtheregistrationrequirementsoftheSecuritiesActof1933,asamended.
Issuer Purchases of Equity Securities
WedidnotrepurchaseanysharesofourcommonstockduringtheyearendedDecember31,2015.
InFebruary2013,weannouncedthatourBoardofDirectorsauthorizedtherepurchaseof$250millionofoursharesofcommonstockunderashare
repurchaseprogram.AsofDecember31,2015,wehad$105millionremainingtorepurchasesharesofourcommonstockunderthissharerepurchase
program.TherepurchaseprogramhasnoexpirationdatebutmaybesuspendedorterminatedbytheBoardofDirectorsatanytime.TheExecutiveCommitteeof
ourBoardofDirectorswilldeterminetheprice,timing,amountandmethodofsuchrepurchasesbasedonitsevaluationofmarketconditionsandotherfactors,and
anysharesrepurchasedwillbeincompliancewithapplicablelegalrequirements,atpricesdeterminedtobeattractiveandinthebestinterestsofboththeCompany
anditsstockholders.See“Note14—Stockholders’ Equity ”inthenotestotheconsolidatedfinancialstatementsinItem8foradditionalinformationregardingour
treasuryshares.
Equity Compensation Plan Information
OurequityplaninformationrequiredbythisitemisincorporatedbyreferencetotheinformationinPartIII.Item12.ofthisAnnualReportonForm10-K.
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