Baker Hughes 2013 Annual Report Download - page 48

Download and view the complete annual report

Please find page 48 of the 2013 Baker Hughes annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 121

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121

2013 Annual Report 18
PART II
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND
ISSUER PURCHASES OF EQUITY SECURITIES
Our common stock, $1.00 par value per share, is principally traded on the New York Stock Exchange. Our
common stock is also traded on the SIX Swiss Exchange. As of February 7, 2014, there were approximately
10,300 stockholders of record.
For information regarding quarterly high and low sales prices on the New York Stock Exchange for our common
stock during the two years ended December 31, 2013, and information regarding dividends declared on our
common stock during the two years ended December 31, 2013, see Note 13 of the Notes to Consolidated Financial
Statements in Item 8 herein.
The following table contains information about our purchases of equity securities during the fourth quarter of
2013.
Issuer Purchases of Equity Securities
Period
Number
of Shares
Purchased (1)
Average
Price Paid
Per Share (1)
Number of
Shares
Purchased
as Part of a
Publicly
Announced
Program (2)
Average
Price Paid
Per Share (3)
Total
Number of
Shares
Purchased
in the
Aggregate
Maximum
Number (or
Approximate
Dollar Value) of
Shares that May
Yet Be Purchased
Under the
Program (4)
October 1-31, 2013 2,860 $55.67 — $ 2,860 $
November 1-30, 2013 101 56.73 2,877,310 57.34 2,877,411
December 1-31, 2013 3,422,161 54.12 3,422,161
Total 2,961 $55.70 6,299,471 $ 55.59 6,302,432 $ 1,649,956,974
(1) Represents shares purchased from employees to satisfy the tax withholding obligations in connection with
the vesting of restricted stock awards and restricted stock units.
(2) Repurchases were made under our previously announced purchase program, including under a Letter
Agreement with an agent that complied with the requirements of Rule 10b-18 of the Exchange Act (the
“Agreement”). Shares were repurchased under the Agreement by the agent at the prevailing market prices,
in open market transactions. Additionally, on December 10, 2013, we entered into a Purchase Plan that
complied with Rule 10b5-1 of the Exchange Act (the "10b5-1 Plan"). Under the 10b5-1 Plan, the agent
repurchased a number of shares of our common stock determined under the terms of the 10b5-1 Plan each
trading day based on the trading price of the stock on that day.
(3) Average price paid includes commissions.
(4) During 2013, our Board of Directors increased the authorization to purchase our common stock under our
previously announced program by $800 million. During the fourth quarter of 2013, we repurchased 6.3
million shares of our common stock at an average price of $55.59 per share (including commissions), for a
total of $350 million. We had authorization remaining to repurchase up to a total of $1.65 billion of our
common stock as of the end of 2013.