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CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
80
11. Stockholders’ Equity
During 2007 and 2006, the Company received net proceeds totaling $761,000 and $7.2 million from
the exercise of stock options for 69,854 and 662,828 shares, respectively.
The Company received 9,794 shares, 7,379 shares and 2,588 during 2007, 2006 and 2005, respectively,
of its common stock valued at $408,000 and $188,000 and $67,000, respectively, as partial payment of taxes for
shares issued under stock-based compensation plans.
On April 20, 2005, the Company’s Board of Directors authorized management to purchase up to a
total of 1,500,000 shares of its common stock from time to time in open market transactions and terminated
the existing open market purchase authorization established on July 25, 2002. On October 24, 2007, the
Board established a new authorization for the repurchase of up to a total of 1,500,000 shares of its common
stock and ended the 2005 authorization. The following table summarizes the aggregate shares purchased
under these plans during each of the three years ended December 31:
2007 2006 2005
Shares purchased:
Under 2002 authorization...................................................... ʊ ʊ 122,000
Under 2005 authorization...................................................... 617,600 256,500 178,800
Under 2007 authorization ..................................................... 50,000 ʊ ʊ
Total shares purchased ...................................................... 667,600 256,500 300,800
Aggregate amount (in thousands)............................................. $ 23,558 $ 9,366 $ 6,130
Average price paid per share .................................................... $ 35.29 $ 36.51 $ 20.38
Periodically, shares are purchased in the open market on behalf of participants relating to the Non-
Qualified Savings Plan. Certain amounts are subsequently distributed or transferred to participants’ 401(k)
account annually based on results of the plan’s non-discrimination testing results. Activities during each of
the three years ended December 31 are summarized as follows:
2007 2006 2005
Purchases:
Number of shares .................................................................. 4,596 7,021 11,463
Aggregate amount (in thousands)......................................... $ 180 $ 235 $ 258
Distributions and transfers to 401(k) savings plan:
Number of shares .................................................................. 6,697 12,837 16,441
Aggregate amount (in thousands)......................................... $ 112 $ 185 $ 215
The Board of Directors adopted an officer stock loan program (the “Program”) in 1994 and
modified it in 1996, 2001 and 2002. The 2002 amendment, which was adopted in response to the
requirement of the Sarbanes-Oxley law, provided that no further advances would be made to existing
participants and closed the plan to new participants. Prior to the 2002 amendment, Program participants
used loan proceeds to acquire and hold the Company’s and affiliates’ common stock by means of stock
option exercises or otherwise. Common stock held as a result of the loan was pledged to the Company in
support of the obligation. Interest accrued at 6% per annum. The entire unpaid balance of principal and
interest on these loans was due and payable on July 24, 2007. As of December 31, 2007, all officer stock
loans had been repaid.
In November 2005, the Company’s Chief Executive Officer adopted a pre-arranged, systematic
trading plan to sell company shares pursuant to guidelines specified by Rule 10b5-1 under the Securities and
Exchange Act of 1934 and with the Company’s policies with respect to insider sales (the “Plan”). From