Overstock.com 2008 Annual Report Download - page 35

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Table of Contents
STOCK PERFORMANCE GRAPH
The following graph shows a comparison of cumulative total stockholder return, calculated on a dividend reinvested basis, from
the market closing price on December 31, 2003 through December 31, 2008 for Overstock.com, Inc., Hemscott's (formerly Media
General's) Nasdaq U.S. Index and Hemscott's Internet Software and Services Index. The graph assumes that $100 was invested in
Overstock's common stock and the above indices at the closing prices on December 31. Historic stock price performance is not
necessarily indicative of future stock price performance.
COMPARISON OF CUMULATIVE TOTAL RETURN
AMONG OVERSTOCK.COM, INC.,
NASDAQ MARKET INDEX-U.S. AND HEMSCOTT GROUP INDEX
ASSUMES $100 INVESTED ON DEC. 31, 2003
ASSUMES DIVIDEND REINVESTED
FISCAL YEAR ENDING DEC. 31, 2008
Holders
As of February 23, 2009, there were 183 holders of record of our common stock. Because many of our shares of common stock
are held by brokers and other institutions on behalf of shareholders, we are unable to estimate the total number of shareholders
represented by these record holders.
Dividends
We have never declared or paid any cash dividends on our common stock. We currently intend to retain any earnings for future
growth and do not anticipate paying any cash dividends in the foreseeable future. Any future determination to pay dividends will be at
the discretion of our board of directors and will depend on our results of operations, financial conditions, contractual and legal
restrictions and other factors the board deems relevant. Our Loan and Security Agreement with Wells Fargo Retail Finance, LLC as
amended and restated on January 6, 2009, prohibits us from paying dividends without the consent of the lender.
Recent Sales of Unregistered Securities
None.
Issuer Purchases of Equity Securities
In January 2008, the Board of Directors approved a repurchase program under which we were authorized to repurchase up to
$20.0 million of our common stock and/or Convertible Senior Notes due 2011 through December 31, 2009. Under this repurchase
32