Logitech 2015 Annual Report Download - page 165

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During fiscal years 2015, 2014 and 2013, the Company had the following approved share buyback
programs in place (in thousands):
Approved
Share Buyback Program Shares Amounts
March 2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17,311 $250,000
September 2008 - amended(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28,465 177,030
September 2008(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,344 250,000
54,120 $677,030
(1) Expired in August 2013
Share Repurchases
In March 2014, the Company’s Board of Directors approved the 2014 share buyback program, which
authorizes the Company to use up to $250.0 million to purchase its own shares. The Company’s share
buyback program is expected to remain in effect for a period of three years. Shares may be repurchased
from time to time on the open market, through block trades or otherwise. Purchases may be started or
stopped at any time without prior notice depending on market conditions and other factors.
In September 2008, the Company’s Board of Directors approved the September 2008 share buyback
program for $250.0 million. In November 2011, an amendment to the September 2008 share buyback
program (“September 2008 - amended”) was approved by the Company’s Board of Directors to enable
future purchases of shares for cancellation. In August 2013, the September 2008 share buyback and
September 2008 - amended share buyback programs expired.
A summary of the approved share buyback programs are shown in the following table (in thousands,
excluding transaction costs).
Approved Repurchased
Share Buyback Program Shares Amounts Shares Amounts
March 2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17,311 $250,000 115 $ 1,663
September 2008 - amended(1) . . . . . . . . . . . . . . . . . . . . . . 28,465 177,030 18,500 170,714
September 2008(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,344 250,000 7,609 73,134
54,120 $677,030 26,224 $ 245,511
(1) Expired in August 2013
During fiscal year 2015, 0.1 million shares were repurchased for $1.7 million. There were no share
repurchases during fiscal year 2014. During fiscal year 2013, 8.6 million shares were repurchased for
$87.8 million and 18.5 million of the repurchased shares were cancelled.
For further information on Logitech’s share repurchases please refer to “Additional Financial
Disclosures – Market for Logitech’s Shares, Related Shareholder Matters, and Share Repurchases” in
our Annual Report.
49
Annual Report Fiscal Year 2015