WeightWatchers 2007 Annual Report Download - page 35

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PART II
Item 5. Market for Registrant’s Common Equity, Related Shareholder Matters and Issuer Purchases of
Equity Securities
Our common stock is listed on the NYSE. Our common stock trades on the NYSE under the symbol
“WTW.”
The following table sets forth, for the period indicated, the high and low sales prices per share for our
common stock as reported on the NYSE consolidated tape.
Fiscal 2007 (Year ended December 29, 2007)
High Low
First Quarter ....................................................... $55.75 $45.17
Second Quarter ..................................................... $53.20 $45.80
Third Quarter ....................................................... $58.24 $47.01
Fourth Quarter ...................................................... $58.20 $44.48
Fiscal 2006 (Year ended December 30, 2006)
High Low
First Quarter ....................................................... $54.11 $45.51
Second Quarter ..................................................... $51.67 $40.01
Third Quarter ....................................................... $45.35 $37.49
Fourth Quarter ...................................................... $52.87 $42.11
We made no stock repurchases during the quarter ended December 29, 2007.
On October 9, 2003, our Board of Directors authorized a program to repurchase up to $250.0 million of our
outstanding common stock. On each of June 13, 2005 and May 25, 2006, our Board of Directors authorized
adding an additional $250.0 million to this program. Under this program, we will not purchase shares held by
Artal. This program currently has no expiration date. As of fiscal year end 2007, $216.4 million remains
available to purchase our shares under this program.
On December 18, 2006, we commenced a Tender Offer in which we sought to acquire up to 8.3 million
shares of our common stock at a price between $47.00 and $54.00 per share. Prior to the Tender Offer, we
entered into an agreement with Artal whereby Artal agreed to sell us at the same price as determined in the
Tender Offer the number of our shares necessary to keep its percentage ownership in us at substantially the same
level after the Tender Offer. Artal also agreed not to participate in the Tender Offer so that it would not affect the
determination of the price in the Tender Offer. The Tender Offer expired at midnight on January 18, 2007, and
on January 26, 2007, we repurchased approximately 8.5 million shares at a price of $54.00 per share. The
8.5 million shares repurchased are comprised of the 8.3 million shares we offered to purchase and 0.2 million
shares purchased pursuant to our right to purchase up to an additional 2% of the outstanding shares as of
November 30, 2006. On February 2, 2007, we purchased 10.5 million of our shares from Artal at a purchase
price of $54.00 per share pursuant to our prior agreement with Artal. In January 2007, we amended and
supplemented our revolving credit facility to finance these repurchases.
Holders
The approximate number of holders of record of our common stock as of January 31, 2008 was 486. This
number does not include beneficial owners of our securities held in the name of nominees.
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