Callaway 2010 Annual Report Download - page 38

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The Callaway Golf Company index is based upon the closing prices of Callaway Golf Company common
stock on December 31, 2005, 2006, 2007, 2008, 2009 and 2010 of $13.84, $14.41, $17.43, $9.29, $7.54 and
$8.07, respectively.
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
In November 2007, the Board of Directors authorized a repurchase program (the “November 2007
repurchase program”) for the Company to repurchase shares of its common stock up to a maximum cost to the
Company of $100.0 million, which will remain in effect until completed or otherwise terminated by the Board of
Directors.
During the three months ended December 31, 2010, the Company repurchased a nominal number of shares
of its common stock at a weighted average cost per share of $7.68 under the November 2007 repurchase
program. The Company acquired these shares to satisfy the Company’s tax withholding obligations in connection
with the vesting and settlement of employee restricted stock unit awards. As of December 31, 2010, the
Company remained authorized to repurchase up to an additional $75.2 million of its common stock under this
program.
The following table summarizes the purchases by the Company under its repurchase programs during the
fourth quarter of 2010 (in thousands, except per share data):
Three Months Ended December 31, 2010
Total Number
of Shares
Purchased
Weighted
Average Price
Paid per Share
Total Number
of Shares
Purchased as
Part of
Publicly
Announced
Programs
Maximum
Dollar
Value that
May Yet Be
Purchased
Under the
Programs
October 1, 2010—October 31, 2010 ............... — $— — $75,176
November 1, 2010—November 30, 2010 ........... 1 $7.68 1 $75,165
December 1, 2010—December 31, 2010 ............ — $— — $75,165
Total .................................... 1 $7.68 1 $75,165
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