VMware 2015 Annual Report Download - page 32

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TableofContents
Subjecttoapplicablelaws,repurchasesunderourstockrepurchaseprogrammaybemadeatsuchtimesandinsuchamountsaswedeemappropriate.Thetiming
ofanyrepurchasesandtheactualnumberofsharesrepurchasedwilldependonavarietyoffactors,includingVMware’sstockprice,cashrequirementsfor
operationsandbusinesscombinations,corporateandregulatoryrequirementsandothermarketandeconomicconditions.Purchasesunderourstockrepurchase
programcanbediscontinuedatanytimethatwefeeladditionalpurchasesarenotwarranted.
Stock Performance Graph
ThegraphbelowcomparesthecumulativetotalstockholderreturnonourClassAcommonstockwiththecumulativetotalreturnontheS&P500Indexandthe
S&P500SystemsSoftwareindexfortheperiodbeginningonDecember31,2010throughDecember31,2015,assuminganinitialinvestmentof$100.
Historically,wehavenotdeclaredorpaidcashdividendsonourcommonstock,whilethedatafortheS&P500IndexandtheS&P500SystemsSoftwareIndex
assumereinvestmentofdividends.
Base
Period
12/31/2010
12/31/2011
12/31/2012
12/31/2013
12/31/2014
12/31/2015
VMware,Inc. $ 100.00
$ 93.57
$ 105.88
$ 100.90
$ 92.81
$ 63.63
S&P500Index 100.00
102.11
118.45
156.82
178.29
180.75
S&P500SystemsSoftwareIndex 100.00
90.05
103.76
137.89
169.62
187.38
Note:Thestockpriceperformanceshownonthegraphaboveisnotnecessarilyindicativeoffuturepriceperformance.Thisgraphshallnotbedeemed“filed”
forpurposesofSection18oftheExchangeActorotherwisesubjecttotheliabilitiesofthatsectionnorshallitbedeemedincorporatedbyreferenceinanyfiling
undertheSecuritiesActortheExchangeAct,regardlessofanygeneralincorporationlanguageinsuchfiling.
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