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35
Express Scripts 2014 Annual Report
PART II
31
Item 5 — Market For Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity
Securities
Market Price of and Dividends on the Registrant’s Common Equity and Related Stockholder Matters
Market Information.OurcommonstockistradedontheNasdaqGlobalSelectMarket(“Nasdaq”)underthe
symbol“ESRX.”Thehighandlowprices,asreportedbytheNasdaq,aresetforthbelowfortheperiodsindicated.
Fiscal Year 2014 Fiscal Year 2013
Common Stock High Low High Low
FirstQuarter $79.37 $69.61 $60.08 $53.05
SecondQuarter 76.21 64.64 64.08 54.57
ThirdQuarter 75.95 65.08 67.66 60.80
FourthQuarter 86.27 68.78 70.79 59.20
Holders.AsofFebruary2,2015,therewere53,482stockholdersofrecordofourcommonstock.Weestimatethere
areapproximately696,355beneficialownersofourcommonstock.
Dividends.TheBoardofDirectorshasnotdeclaredanycashdividendsonourcommonstocksinceourinitial
publicofferinganddoesnotcurrentlyintendtodeclareanycashdividendsintheforeseeablefuture.
Recent Sales of Unregistered Securities
None.
Issuer Purchases of Equity Securities
FollowingisasummaryofourstockrepurchasingactivityduringthethreemonthsendedDecember31,2014
(sharedatainmillions):
Period
Total number
of shares
purchased
Average price
paid per share
Total number of
shares
purchased as
part of a
publicly
announced
program
Maximum
number of
shares that may
yet be purchased
under the
program
10/1/2014-10/31/2014 — $— — 28.8
11/1/2014-11/30/2014 5.0 78.29 5.0 23.8
12/1/2014-12/31/2014 5.1 83.94 5.1 83.7 (1)
FourthQuarter2014Total 10.1 $81.15 10.1
(1) IncreaseinnumberofsharesthatmayyetbepurchasedundertheprogramisduetoapprovalbytheBoardofDirectors
ofExpressScriptstoincreasetheauthorizednumberofsharesbyanadditional65.0millionshares.
Therepurchasesdisclosedinthistableweremadepursuanttothesharerepurchaseprogramoriginallyannounced
andexecutedduring2013(the“ShareRepurchaseProgram”).IneachofMarch2014andDecember2014,theBoardof
DirectorsofExpressScriptsapprovedanincreaseintheauthorizednumberofsharesthatmayberepurchasedundertheShare
RepurchaseProgram.Eachauthorizationapprovedanadditional65.0millionshares,foratotalauthorizationof205.0million
shares(includingsharespreviouslypurchased,asadjustedforanysubsequentstocksplit,stockdividendorsimilartransaction)
oftheCompany’scommonstock.ThereisnolimitonthedurationoftheShareRepurchaseProgram.Currentyearrepurchases
werefundedthroughinternallygeneratedcashanddebt.AsofDecember31,2014,therewere83.7millionsharesremaining
undertheShareRepurchaseProgram.Additionalsharerepurchases,ifany,willbemadeinsuchamountsandatsuchtimesas
wedeemappropriatebaseduponprevailingmarketandbusinessconditionsandotherfactors.