Juno 2013 Annual Report Download - page 36

Table of Contents
leaving $49.8 million of authorization remaining under the Program. In February 2011, the Board of Directors extended the Program through
December 31, 2011 and authorized an increase in the $49.8 million authorization remaining to $80.0 million. In December 2011, the Board of Directors
extended the Program through December 31, 2012. In January 2013, the Board of Directors approved and ratified the extension of the Program through
December 31, 2013, and in September 2013, the Board of Directors further extended the Program through December 31, 2014. There were no
repurchases under the Program in the year ended December 31, 2013 and, at December 31, 2013, the authorization remaining under the Program was
$80.0 million.
Shares withheld upon the vesting of restricted stock units and restricted stock awards and upon the issuance of stock awards to pay applicable
required employee withholding taxes are considered common stock repurchases, but are not counted as purchases against the Program. Upon vesting of
most restricted stock units or issuance of stock awards, we currently do not collect the applicable required employee withholding taxes from employees.
Instead, we automatically withhold, from the restricted stock units that vest and from the stock awards that are issued, the portion of those shares with a
fair market value equal to the amount of the employee withholding taxes due, which is accounted for as a repurchase of common stock. We then pay the
applicable required employee withholding taxes.
Common stock repurchases during the quarter ended December 31, 2013 were as follows (in thousands, except per share amounts):

This performance graph shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the
"Exchange Act"), or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of
United Online, Inc. under the Securities Act of 1933, as amended, or the Exchange Act.
The following graph compares, for the five-year period ended December 31, 2013, the cumulative total stockholder return for the Company's
common stock, The Nasdaq Composite Index (the "Nasdaq Composite") and the Morgan Stanley Internet Index ("MS Internet Index"). Measurement
points are the last trading day of each of the Company's fiscal years ended December 31, 2008, 2009, 2010, 2011, 2012, and 2013. The graph assumes
that $100 was invested on December 31, 2008 in the common stock of United Online, Inc., the Nasdaq Composite and the MS Internet Index and
assumes reinvestment of
35
 


 


 





 





 
October 1 –
October 31,
2013 — $ — — $ 80,000
November 1 –
November 30,
2013 57 $ 16.44 — $ 80,000
December 1 –
December 31,
2013 — $ — — $ 80,000