Activision 2009 Annual Report Download - page 86

74
filing of these tax returns by Vivendi or Vivendi’s subsidiaries, we determined that the amount paid by Vivendi Games was
greater than the actual amount due (and settled) based upon filing of these returns. This difference between the amount paid
and the actual amount due (and settled) represents a return of capital to Vivendi, which was required in accordance with the
terms of the Business Combination agreement immediately prior to the close of the Business Combination.
Stock Splits
In July 2008, the Board of Directors approved a two-for-one split of our outstanding common stock effected in the
form of a stock dividend (“the split”). The stock dividend was issued on September 5, 2008 to shareholders of record as of
August 25, 2008. The par value of our common stock was maintained at the pre-split amount of $.000001 per share. The
Consolidated Financial Statements and Notes thereto, including all share and per share data, have been restated as if the split
had occurred as of the earliest period presented.
Issuer Purchase of Equity Securities (amounts in millions, except number of shares and per share data)
The following table provides the number of shares purchased and average price paid per share during each quarter of
2010, the total number of shares purchased as part of our publicly announced share repurchase programs, and the
approximate dollar value of shares that could still be purchased under our $1 billion stock repurchase program as of the end
of the relevant period.
Period
Total number
of shares
repurchased(1)
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 to be purchased
under the plan
(in millions)
January 1, 2010—March 31, 2010 ........................ 9,819,847 $10.91 9,819,847 $908
April 1, 2010—June 30, 2010 ............................... 22,552,956 10.75 22,552,956 666
July 1, 2010—September 30, 2010 ....................... 24,154,962 10.90 24,154,962 402
October 1, 2010—October 31, 2010 ..................... 300,100 10.81 300,100 399
November 1, 2010—November 30, 2010 ............. 9,014,217 11.63 9,014,217 294
December 1, 2010—December 31, 2010 .............. 19,631,407 12.13 19,631,407 —(1)
Subtotal for the fourth quarter of 2010 ................. 28,945,724 11.96 28,945,724
Total ...................................................................... 85,473,489 $11.22 85,473,489
(1) In January 2010, we settled a $15 million purchase of 1.3 million shares of our common stock that we had agreed to
repurchase in December 2009 pursuant to the stock repurchase program authorized by our Board of Directors in
2008 and amended by the Board in 2009 under which we were authorized to repurchase up to $1.25 billion of our
common stock until December 31, 2009. Purchases during the period from February 2010 through December 2010
were made pursuant to the stock repurchase program authorized by our Board of Directors on February 10, 2010,
pursuant to which we were authorized to repurchase up to $1 billion of our common stock from time to time on the
open market or in private transactions, including structured or accelerated transactions, until December 31, 2010. In
addition to the repurchases in the table, in January 2011, we settled the purchase of 1.8 million shares of our
common stock at an average price per share of $12.48 for $22 million that we had agreed to repurchase in December
2010 pursuant to that stock repurchase program.
On February 3, 2011, our Board of Directors approved a stock repurchase program pursuant to which we may
repurchase up to $1.5 billion of the Company’s common stock from time to time on the open market or in private
transactions, including structured or accelerated transactions, on terms and conditions to be determined by the Company,
until the earlier of March 31, 2012 and a determination by the Board of Directors to discontinue the repurchase program.