Dollar General 2009 Annual Report Download - page 31

outstanding common stock, even if such amount is less than 50%, the Investors will continue to be able
to strongly influence or effectively control our decisions. The concentration of ownership may have the
effect of delaying, preventing or deterring a change of control of our company, could deprive
shareholders of an opportunity to receive a premium for their common stock as part of a sale of our
company and might ultimately affect the market price of our common stock.
If we, the Investors or other significant shareholders sell shares of our common stock, the market price of
our common stock could decline.
The market price of our common stock could decline as a result of sales of a large number of
shares of common stock in the market, or the perception that such sales could occur. These sales, or
the possibility that these sales may occur, also might make it more difficult for us to issue equity
securities in the future at a time and at a price that we deem appropriate. As of January 29, 2010, we
had approximately 340.6 million shares of common stock outstanding, of which less than 15% were
freely tradable on the New York Stock Exchange.
Pursuant to shareholders agreements, we have granted the Investors the right to cause us, in
certain instances, at our expense, to file registration statements under the Securities Act of 1933, as
amended, covering resales of our common stock held by them or to piggyback on a registration
statement in certain circumstances. Certain members of management hold similar piggyback registration
rights. Collectively, these shares represent approximately 88% of our outstanding common stock. To the
extent that such registration rights are exercised, the resulting sale of a substantial number of shares of
our common stock into the market could cause the market price of our common stock to decline.
These shares also may be sold pursuant to Rule 144 under the Securities Act, depending on their
holding period and subject to restrictions in the case of shares held by persons deemed to be our
affiliates.
ITEM 1B. UNRESOLVED STAFF COMMENTS
None.
ITEM 2. PROPERTIES
As of February 26, 2010, we operated 8,877 retail stores located in 35 states as follows:
Number of Number of
State Stores State Stores
Alabama ...................... 488 Nebraska ...................... 80
Arizona ....................... 54 New Jersey .................... 34
Arkansas ...................... 246 New Mexico ................... 45
Colorado ...................... 22 New York ..................... 238
Delaware ...................... 25 North Carolina ................. 510
Florida ....................... 456 Ohio ......................... 486
Georgia ....................... 502 Oklahoma ..................... 289
Illinois ........................ 330 Pennsylvania ................... 409
Indiana ....................... 336 South Carolina .................. 353
Iowa ......................... 170 South Dakota .................. 12
Kansas ....................... 162 Tennessee ..................... 455
Kentucky ...................... 330 Texas ......................... 1,016
Louisiana ..................... 353 Utah......................... 9
Maryland ...................... 65 Vermont ...................... 8
Michigan ...................... 250 Virginia ....................... 256
Minnesota ..................... 16 West Virginia ................... 161
Mississippi ..................... 286 Wisconsin ..................... 89
Missouri ...................... 336
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