TCF Bank 2011 Annual Report Download - page 35

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Repurchases of TCF Stock
The following table summarizes common stock share repurchase activity for the quarter ended December 31, 2011.
Period
Total Number
of Shares
Purchased
Average
Price Paid
Per Share
Total Number of Shares
Purchased as Part of
Publicly Announced Plan
Maximum Number of
Shares that May Yet be
Purchased Under the Plan
October 1 to October 31, 2011
Share repurchase program (1) – $ – – 5,384,130
Employee transactions (2) 6,564 $9.45 N.A. N.A.
November 1 to November 30, 2011
Share repurchase program (1) – $ – – 5,384,130
Employee transactions (2) – $ – N.A. N.A.
December 1 to December 31, 2011
Share repurchase program (1) – $ – – 5,384,130
Employee transactions (2) – $ – N.A. N.A.
Total
Share repurchase program (1) – $ – –
Employee transactions (2) 6,564 $9.45 N.A.
N.A. Not Applicable.
(1) The current share repurchase authorization was approved by the Board of Directors on April 14, 2007 and was announced in a press release dated April 16, 2007. The
authorization was for a repurchase of up to an additional 5% of TCF’s common stock outstanding at the time of the authorization, or 6.5 million shares. This authorization
does not have an expiration date.
(2) Shares withheld pursuant to the terms of awards under the TCF Financial Incentive Stock Program to offset tax withholding obligations that occur upon vesting and release
of restricted shares. The TCF Financial Incentive Stock Program provides that the value of shares withheld shall be the average of the high and low prices of common stock
of TCF Financial Corporation on the date the relevant transaction occurs.
172011 Form 10-K