Black & Decker 2011 Annual Report Download - page 28

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16
The following table provides information about the Company’s purchases of equity securities that are registered by the Company
pursuant to Section 12 of the Exchange Act for the three months ended December 31, 2011:
2011
(a)
Total
Number
Of Shares
Purchased
Average
Price
Paid
Per Share
Total
Number
Of Shares
Purchased As
Part Of A
Publicly
Announced
Plan
or Program
Maximum
Number
Of Shares
That
May
Yet Be
Purchased
Under The
Program
October 2 – November 5………………………………………………………….
1,169 $ 58.14 —
—
November
6 – December 3……………………………………………………….
— — —
—
December 4 – December 31………………………………………………………
76,398 $ 64.22 —
—
Total……………………………………………………………………………….
77,567 $ 64.13 —
—
(a) The shares of common stock in this column were deemed surrendered to the Company by participants in various benefit plans of
the Company to satisfy the participants’ taxes related to vesting or delivery of time-vesting restricted share units under those
plans.
As of December 31, 2011, 7.8 million shares of common stock remain authorized for repurchase (out of the prior December 12, 2007
authorization for the repurchase of 10.0 million shares). Furthermore, 5.6 million shares are reserved for purchase in connection with
the forward share purchase contract, entered into in the third quarter of 2011 (as discussed within Note J, Capital Stock). The forward
share purchase contract obligates the Company to pay $350.0 million to the financial institution counterparty and take title to the
shares not later than August 2013 or earlier at the Company’s option. The Company may continue to repurchase shares in the open
market or through privately negotiated transactions from time to time pursuant to this prior authorization to the extent management
deems warranted based on a number of factors, including the level of acquisition activity, the market price of the Company’s common
stock and the current financial condition of the Company.