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FORM 10-K
21
PART II
Item 5. Market For Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Common stock:
Shares of O’Reilly Automotive, Inc. (the “Company”) common stock are traded on The NASDAQ Global Select Market (“Nasdaq”)
under the symbol “ORLY”. The Company’s common stock began trading on April 22, 1993; no cash dividends have been declared since
that time, and we do not anticipate paying any cash dividends in the foreseeable future.
As of February 19, 2014, the Company had approximately 106,000 shareholders of common stock based on the number of holders of
record and an estimate of individual participants represented by security position listings.
The prices in the following table represent the high and low sales price for the Company’s common stock as reported by Nasdaq.
2013 2012
High Low High Low
First Quarter $ 104.70 $ 87.74 $ 91.51 $ 78.15
Second Quarter 113.09 98.67 106.71 81.34
Third Quarter 128.20 113.91 94.56 80.37
Fourth Quarter 135.19 120.96 94.08 79.92
For the Year $ 135.19 $ 87.74 $ 106.71 $ 78.15
Sales of unregistered securities:
There were no sales of unregistered securities during the year ended December 31, 2013.
Issuer purchases of equity securities:
The following table identifies all repurchases during the fourth quarter ended December 31, 2013, of any of the Company’s securities
registered under Section 12 of the Exchange Act, as amended, by or on behalf of the Company or any affiliated purchaser (in thousands,
except per share amounts):
Period
Total
Number of
Shares
Purchased
Average
Price Paid
per Share
Total Number of
Shares Purchased as
Part of Publicly
Announced Programs
Maximum Dollar
Value of Shares that
May Yet Be
Purchased Under the
Programs (1)
October 1, 2013, to October 31, 2013 325 $ 125.55 325 $ 350,747
November 1, 2013, to November 30, 2013 857 123.77 857 244,689
December 1, 2013, to December 31, 2013 799 123.88 799 145,734
Total as of December 31, 2013 1,981 $ 124.11 1,981
(1) Under our share repurchase program, as approved by our Board of Directors on January 11, 2011, we may, from time to time, repurchase shares
of our common stock, solely through open market purchases effected through a broker dealer at prevailing market prices, based on a variety of
factors such as price, corporate trading policy requirements and overall market conditions not to exceed a dollar limit authorized by the Board of
Directors. We may increase or otherwise modify, renew, suspend or terminate the share repurchase program at any time, without prior notice. On
May 29, 2013, our Board of Directors approved a resolution to increase the authorization under the share repurchase program by an additional $500
million, raising the cumulative authorization under the share repurchase program to $3.5 billion, which was previously announced. The additional
$500 million authorization is effective for a three-year period, beginning on May 29, 2013. The current authorization under the share repurchase
program is scheduled to expire on May 29, 2016. No other share repurchase programs existed during the three or twelve months ended December
31, 2013.
The Company repurchased a total of 8.5 million shares of its common stock under its publicly announced share repurchase program
during the year ended December 31, 2013, at an average price per share of $109.38. Subsequent to the end of the year and through
February 28, 2014, the Company did not repurchase a material number of shares of its common stock. The Company repurchased a total
of 40.6 million shares of its common stock under its share repurchase program since the inception of the program in January of 2011 and
through February 28, 2014, at an average price of $82.61, for a total aggregate investment of $3.4 billion.
Stock performance graph:
The graph below shows the cumulative total shareholder return assuming the investment of $100, on December 31, 2008, and the
reinvestment of dividends thereafter, if any, in the Company’s common stock versus the Nasdaq Retail Trade Stocks Total Return Index