CTXS » Topics » Issuer Purchases of Equity Securities

This excerpt taken from the CTXS 10-Q filed May 6, 2005.

Issuer Purchases of Equity Securities

 

The Company’s Board of Directors has authorized an ongoing stock repurchase program with a total repurchase authority granted to the Company of $1.0 billion, of which $200 million was authorized in February 2005, the objective of which is to manage actual and anticipated dilution and to improve stockholders’ returns. At March 31, 2005, approximately $202.0 million was available to repurchase common stock pursuant to the stock repurchase program. All shares repurchased are recorded as treasury stock. The following table shows the monthly activity related to the Company’s stock repurchase program for the three month period ending March 31, 2005:

 

    

(a)

Total Number

of Shares

(or Units)

Purchased (1)


  

(b)

Average Price

Paid per Share


 

(c)

Total Number of Shares

(or Units) Purchased as

Part of Publicly

Announced Plans or

Programs


  

(d)

Maximum Number

(or approximate dollar value)

of Shares (or Units) that

may yet be Purchased

under the Plans or

Programs


January 1, 2005 through January 31, 2005

   162,889    $22.46(2)      162,889       $241,954(3)

February 1, 2005 through February 28, 2005

   1,059,855      22.04(2)   1,059,855      236,746

March 1, 2005 through March 31, 2005

   1,331,608      23.33(2)   1,331,608      201,993
    
  
 
  

Total

   2,554,352    $22.74(2)   2,554,352    $201,993

(1) Represents shares received under the Company’s prepaid stock repurchase programs and shares acquired in open market purchases. The Company expended a net amount of $40.0 million during the quarter ended March 31, 2005 for repurchases of the Company’s common stock. For more information see note 11 to the Company’s condensed consolidated financial statements.
(2) These amounts represent the cumulative average price paid per share for shares acquired in open market purchases and those received under the Company’s prepaid stock repurchase programs some of which extend over more than one fiscal period.
(3) Amount available under the remaining dollar amount the Company has to repurchase shares includes the additional $200 million authorized by the Company’s Board of Directors in February 2005.

 

On February 27, 2004, the Company completed an acquisition of Expertcity.com, Inc., a privately-held company. The purchase was completed in part through the issuance of approximately 5.8 million shares of the Company’s common stock valued at approximately $124.8 million, including 0.2 million shares of common stock issued to Expertcity upon the achievement of certain revenue and other financial milestones during 2004 pursuant to the merger agreement. The issuance of shares in this transaction was made in reliance of an exemption from registration under the Securities Act of 1933, pursuant to Section 3(a)(10) of that act. The Company relied on a public fairness hearing conducted before the Department of Corporations of the State of California pursuant to Section 25142 of the California Corporate Securities Law, resulting in the Company obtaining a permit dated February 24, 2004 to issue the shares of the Company’s common stock.

 

This excerpt taken from the CTXS 10-K filed Mar 11, 2005.

Issuer Purchases of Equity Securities

 

The Company’s Board of Directors has authorized an ongoing stock repurchase program with a total repurchase authority granted to the Company of $1.0 billion, of which $200 million was authorized in February 2005. The objective of the stock repurchase program is to manage actual and anticipated dilution and to improve shareholders’ returns. At December 31, 2004, approximately $42.0 million was available to repurchase common stock pursuant to the stock repurchase program. All shares repurchased are recorded as treasury stock. The following table shows the monthly activity related to the Company’s stock repurchase program for the three month period ending December 31, 2004:

 

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    Total Number of
Shares Purchased (1)


  Average
Price Paid
per Share


    Total Number
of Shares
Purchased as Part
of Publicly
Announced Plans
or Programs


 

Approximate dollar
value of Shares that
may yet be
Purchased under the
Plans or Programs

(in thousands)


 

October 1, 2004 through October 31, 2004

  155,590   $ 20.17 (2)   155,590   $ 81,049  

November 1, 2004 through November 30, 2004

  126,463   $ 17.67 (2)   126,463   $ 91,953 (3)

December 1, 2004 through December 31, 2004

  164,051   $ 24.93 (2)   164,051   $ 41,954  
   
         
       

Total

  446,104   $ 21.21 (2)   446,104   $ 41,954  
   
         
       

(1) Represents shares received under the Company’s prepaid stock repurchase programs and shares acquired in open market purchases. The Company expended a net amount of $39.1 million during the quarter ended December 31, 2004 for repurchases of the Company’s common stock. For more information see Note 7 to the Company’s consolidated financial statements.

 

(2) These amounts represent the cumulative average of the price paid per share for shares acquired in open market purchases and those received under the Company’s prepaid stock repurchase programs, some of which extend over more than one fiscal period.

 

(3) Amount available under the remaining dollar amount the Company has to repurchase shares pursuant to its stock repurchase program increased due to the refund of the notional amount and the receipt of a premium received under one of its prepaid structured programs in November 2004.

 

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This excerpt taken from the CTXS 10-Q filed Mar 7, 2005.

Issuer Purchases of Equity Securities

 

The Company’s board of directors has authorized an ongoing stock repurchase program with a total repurchase authority granted to the Company of $800 million, the objective of which is to manage actual and anticipated dilution. At June 30, 2004, approximately $120.7 million was available to repurchase common stock pursuant to the stock repurchase program. All shares repurchased are recorded as treasury stock.

 

    

Total Number

of Shares

(or Units)

Purchased (1)


  

Average Price

Paid per Share


   

Total Number

of Shares

(or Units)
Purchased as

Part of Publicly

Announced
Plans or Programs


  

Maximum Number
(or approximate
dollar value) of
Shares (or Units)

that may yet be

Purchased under
the Plans or Programs


April 1, 2004 through April 30, 2004

   —      $
 
—  
(2
 
)
  —      $ 133,857

May 1, 2004 through May 31, 2004

   212,321    $ 19.98 (2)   212,321    $ 131,411

June 1, 2004 through June 30, 2004

   137,523    $ 19.67 (2)   137,523    $ 120,683
    
          
      

Total

   349,844    $ 19.86 (2)   349,844    $ 120,683

(1) Represents shares received under the Company’s prepaid stock repurchase programs and shares acquired in open market purchases. The Company expended $43.2 million during the quarter ended June 30, 2004 for repurchases of the Company’s common stock. For more information see Note 11 to the Company’s condensed consolidated financial statements.
(2) These amounts represent the cumulative average price paid per share for shares acquired in open market purchases and received under the Company’s prepaid stock repurchase programs, some of which extend over more than one fiscal period.

 

This excerpt taken from the CTXS 10-Q filed Mar 7, 2005.

Issuer Purchases of Equity Securities

 

The Company’s board of directors has authorized an ongoing stock repurchase program with a total repurchase authority granted to the Company of $800 million, the objective of which is to manage actual and anticipated dilution. At September 30, 2004, approximately $81.0 million was available to repurchase common stock pursuant to the stock repurchase program. All shares repurchased are recorded as treasury stock. The following table shows the monthly activity related to the Company’s stock repurchase program for the three month period ending September 30, 2004:

 

     Total Number
of Shares (or
Units)
Purchased (1)


   Average Price
Paid per Share


    Total Number of Shares
(or Units) Purchased as
Part of Publicly
Announced Plans or
Programs


   Maximum Number (or
approximate dollar value)
of Shares (or Units) that
may yet be Purchased
under the Plans or
Programs


 

July 1, 2004 through July 31, 2004

   1,645,980    $ 18.44 (2)   1,645,980    $ 116,773  

August 1, 2004 through August 31, 2004

   575,820    $ 15.88 (2)   575,820    $ 81,049  

September 1, 2004 through September 30, 2004

   731,023    $ 17.80 (2)   731,023    $ 81,049 (3)
    
  


 
  


Total

   2,952,823    $ 17.78 (2)   2,952,823    $ 81,049  
    
  


 
  



(1) Represents shares received under the Company’s prepaid stock repurchase programs and shares acquired in open market purchases. The Company expended $39.6 million during the quarter ended September 30, 2004 for repurchases of the Company’s common stock. For more information see note 11 to the Company’s condensed consolidated financial statements.
(2) These amounts represent the cumulative average price paid per share for shares acquired in open market purchases and received under the Company’s prepaid stock repurchase programs, some of which extend over more than one fiscal period.
(3) Although the Company acquired additional shares during September 2004, the remaining dollar amount the Company has to repurchase shares pursuant to its stock repurchase program did not decrease from August 31, 2004 to September 30, 2004 because the shares acquired in September 2004 were received under the Company’s prepaid stock repurchase programs.

 

This excerpt taken from the CTXS 10-Q filed Mar 7, 2005.

Issuer Purchases of Equity Securities

 

In April 1999, the Company’s board of directors authorized an ongoing stock repurchase program with an initial authority of $200 million. During 2003, the Company’s board of directors authorized the repurchase of an additional $200 million under its stock repurchase program, increasing the total authority to $800 million, the objective of which is to manage actual and anticipated dilution. At March 31, 2004, approximately $163.9 million was available to repurchase common stock pursuant to the stock repurchase program. All shares repurchased are recorded as treasury stock.

 

    

(a)

Total Number
of Shares

(or Units)
Purchased (1)


  

(b)

Average Price
Paid per Share


   

(c)

Total Number of Shares
(or Units) Purchased as
Part of Publicly
Announced Plans or
Programs


 

(d)

Maximum Number (or
approximate dollar value)
of Shares (or Units) that
may yet be Purchased
under the Plans or
Programs


January 1, 2004 through January 31, 2004

   236,568      N/A  (2)   236,568   $ 163,857

February 1, 2004 through February 29, 2004

   473,401      N/A  (2)   473,401   $ 163,857

March 1, 2004 through March 31, 2004

   —        —       —     $ 163,857
    
  


 
 

Total

   709,969    $ 20.96 (2)   709,969   $ 163,857

(1) Represents shares received under the Company’s prepaid stock repurchase programs. No cash was expended during the current period for repurchases of the Company’s common stock. For more information see Note 11 to the Company’s condensed consolidated financial statements.
(2) At March 31, 2004, this amount represents the cumulative average price paid per share for shares received under the Company’s prepaid stock repurchase programs some of which extend over more than one fiscal period.

 

On March 22, 2004, the Company redeemed all of its outstanding zero coupon convertible subordinated debentures for a redemption price of approximately $355.7 million. The debentures were convertible at the option of the security holder at any time on or before the maturity date at a conversion rate of 14.0612 shares of the Company’s common stock for each $1,000 principal amount at maturity of debentures.

 

On February 27, 2004, the Company completed an acquisition of Expertcity.com, Inc., a privately-held company. The purchase was completed in part through the issuance of approximately 5.6 million shares of the Company’s common stock valued at approximately $118.0 million. Furthermore, up to approximately 0.6 million shares of the Company’s common stock may be issued to Expertcity’s stockholders in the event that certain revenue and other financial milestones are achieved by the Expertcity business in 2004. The issuance of shares in this transaction was made in reliance of an exemption from registration under the Securities Act of 1933, pursuant to Section 3(a)(10) of that act. The Company relied on a public fairness hearing conducted before the Department of Corporations of the State of California pursuant to Section 25142 of the California Corporate Securities Law, resulting in the Company obtaining a permit dated February 24, 2004 to issue the shares of the Company’s common stock.

 

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