SanDisk 2014 Annual Report Download - page 111

PART II
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER
MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Market For Our Common Stock. Our common stock is traded on the NASDAQ Global Select Market, or
NASDAQ, under the symbol ‘‘SNDK.’’ The following table summarizes the high and low sale prices for
our common stock as reported by NASDAQ for our two most recent fiscal years.
High Low
2013
First quarter .................................................. $ 56.49 $ 42.30
Second quarter ................................................. 63.73 50.68
Third quarter .................................................. 63.97 53.09
Fourth quarter ................................................. 70.93 58.58
2014
First quarter .................................................. $ 82.55 $ 66.80
Second quarter ................................................. 104.00 73.11
Third quarter .................................................. 108.77 90.66
Fourth quarter ................................................. 106.64 80.26
Holders. As of January 30, 2015, we had approximately 244 stockholders of record.
Dividends. In the third quarter of fiscal year 2013, our Board of Directors declared our first dividend.
We paid a total of $235 million and $101 million in cash for dividends during fiscal years 2014 and 2013,
respectively.
Issuer Purchases of Equity Securities. The table below summarizes information about our purchases of
equity securities registered pursuant to Section 12 of the Exchange Act based upon settlement date during
the three fiscal months ended December 28, 2014 (in millions, except share and per share amounts).
Approximate
Total Number of Dollar Value of
Shares Purchased Shares that May
as Part of Publicly Yet Be Purchased
Total Number of Average Price Paid Announced Plans Under the Plans or
Period Shares Purchased(a) per Share(b) or Programs(a) Programs(a)
September 29, 2014 to
October 26, 2014 ......... 1,808,349 $ 88.51 1,808,349
October 27, 2014 to
November 23, 2014 ....... 3,346,863 90.54 3,346,863
November 24, 2014 to
December 28, 2014 ....... 367,174 101.81 367,174
Total ................. 5,522,386 5,522,386 $ 627
(a) Our Board of Directors has authorized a stock repurchase program that allows management to repurchase shares
of our stock. The stock repurchase program does not obligate us to acquire any specific number of shares of
common stock, or any shares at all, and may be suspended at any time at our discretion. The timing and amount
of any repurchase of shares is determined by our management, based on its evaluation of market conditions, cash
on hand, applicable legal requirements and other factors. Under the stock repurchase program, shares may be
repurchased from time to time in privately negotiated or open market transactions, including under plans
complying with Rule 10b5-1 of the Exchange Act. Our Board of Directors authorized in October 2011 and
increased in December 2012 a stock repurchase program which was fully expended by the end of the third quarter
of fiscal year 2013. On July 31, 2013, we announced that our Board of Directors authorized a new stock
repurchase program of $2.5 billion of our common stock, which will remain in effect until the available funds have
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Annual Report