Lockheed Martin 2015 Annual Report Download - page 34

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Purchases of Equity Securities
The following table provides information about our repurchases of our common stock registered pursuant to Section 12
of the Securities Exchange Act of 1934 during the quarter ended December 31, 2015.
Period (a)
Total
Number of
Shares
Purchased
Average
Price Paid
Per Share
Total Number of
Shares Purchased
as Part of Publicly
Announced Plans or
Programs (b)
Amount
Available for
Future Share
Repurchases
Under the
Plans or
Programs (b)
(in millions)
September 28, 2015 – October 25, 2015 754,286 $208.57 754,004 $4,150
October 26, 2015 – November 29, 2015 1,300,340 $218.87 1,300,071 $3,866
November 30, 2015 – December 31, 2015 1,231,351 $217.27 1,221,812 $3,600
Total 3,285,977(c) $215.90 3,275,887 $3,600
(a) We close our books and records on the last Sunday of each month to align our financial closing with our business processes, except
for the month of December, as our fiscal year ends on December 31. As a result, our fiscal months often differ from the calendar
months. For example, September 28, 2015 was the first day of our October 2015 fiscal month.
(b) In October 2010, our Board of Directors approved a share repurchase program pursuant to which we are authorized to repurchase
our common stock in privately negotiated transactions or in the open market at prices per share not exceeding the then-current
market prices. On September 24, 2015, our Board of Directors authorized a $3.0 billion increase to the program. Under the program,
management has discretion to determine the dollar amount of shares to be repurchased and the timing of any repurchases in
compliance with applicable law and regulation. This includes purchases pursuant to Rule 10b5-1 plans. The program does not have
an expiration date.
(c) During the quarter ended December 31, 2015, the total number of shares purchased included 10,090 shares that were transferred to
us by employees in satisfaction of minimum tax withholding obligations associated with the vesting of restricted stock units. These
purchases were made pursuant to a separate authorization by our Board of Directors and are not included within the program.
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