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EQR » Topics » Common Shares Repurchased in the Quarter Ended December 31, 2008

These excerpts taken from the EQR 10-K filed Feb 26, 2009.

Common Shares Repurchased in the Quarter Ended December 31, 2008

The Company repurchased the following Common Shares during the quarter ended December 31, 2008:

 

Period

        Total Number    
of Common
Shares
Purchased (1)		        Average Price    
Paid Per
Share (1)		    Total Number of
Common Shares
Purchased as Part of
Publicly Announced
    Plans or Programs (1)     		   Dollar Value of
Common Shares
that May Yet Be
    Purchased Under    
the Plans or
Programs (1)

October 2008

    -        $ -          -        $ 469,273,467  

November 2008

    48,924        $ 32.97      48,924        $ 467,660,443  

December 2008

    -        $ -          -        $ 467,660,443  
                       

Fourth Quarter 2008

    48,924        $ 32.97      48,924     

 

  (1) The Common Shares repurchased during the quarter ended December 31, 2008 represent Common Shares repurchased under the Company’s publicly announced share repurchase program approved by its Board of Trustees. All 48,924 shares were repurchased from a Trustee at a price of $32.97 per share (the then current market price) to cover the minimum statutory tax withholding obligation related to the vesting of the Trustee’s restricted shares. On December 3, 2007, the Board of Trustees approved a $500.0 million share repurchase program, of which $467.7 million remains available for repurchase as of December 31, 2008.

Common Shares Repurchased in the Quarter Ended December 31, 2008

The Company repurchased the following Common Shares during the quarter ended December 31, 2008:

 

Period

        Total Number    
of Common
Shares
Purchased (1)		        Average Price    
Paid Per
Share (1)		    Total Number of
Common Shares
Purchased as Part of
Publicly Announced
    Plans or Programs (1)     		   Dollar Value of
Common Shares
that May Yet Be
    Purchased Under    
the Plans or
Programs (1)

October 2008

    -        $ -          -        $ 469,273,467  

November 2008

    48,924        $ 32.97      48,924        $ 467,660,443  

December 2008

    -        $ -          -        $ 467,660,443  
                       

Fourth Quarter 2008

    48,924        $ 32.97      48,924     

 

  (1) The Common Shares repurchased during the quarter ended December 31, 2008 represent Common Shares repurchased under the Company’s publicly announced share repurchase program approved by its Board of Trustees. All 48,924 shares were repurchased from a Trustee at a price of $32.97 per share (the then current market price) to cover the minimum statutory tax withholding obligation related to the vesting of the Trustee’s restricted shares. On December 3, 2007, the Board of Trustees approved a $500.0 million share repurchase program, of which $467.7 million remains available for repurchase as of December 31, 2008.

Common Shares Repurchased in the Quarter Ended
December 31, 2008

The Company repurchased the following Common Shares during the quarter ended December 31, 2008:

 




























































































Period

      Total Number    
SIZE="2">of Common
Shares
Purchased (1)		      Average Price    
SIZE="2">Paid Per
Share (1)		  Total Number of
Common Shares
SIZE="2">Purchased as Part of
Publicly Announced
    Plans or Programs (1)    
  Dollar Value of
Common Shares
FACE="Times New Roman" SIZE="2">that May Yet Be
    Purchased Under    
SIZE="2">the Plans or
Programs (1)

October 2008

  -      $-        -      $469,273,467  

November 2008

  48,924      $32.97    48,924      $467,660,443  

December 2008

  -      $-        -      $467,660,443  
              

Fourth Quarter 2008

  48,924      $32.97    48,924    

 






 (1)The Common Shares repurchased during the quarter ended December 31, 2008 represent Common Shares repurchased under the Company’s publicly announced share repurchase
program approved by its Board of Trustees. All 48,924 shares were repurchased from a Trustee at a price of $32.97 per share (the then current market price) to cover the minimum statutory tax withholding obligation related to the vesting of the
Trustee’s restricted shares. On December 3, 2007, the Board of Trustees approved a $500.0 million share repurchase program, of which $467.7 million remains available for repurchase as of December 31, 2008.
STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%">Equity Compensation Plan Information

SIZE="2">The following table provides information as of December 31, 2008 with respect to the Company’s Common Shares that may be issued under its existing equity compensation plans.

STYLE="margin-top:0px;margin-bottom:0px"> 


27






Table of Contents


















































Plan Category

      Number of securities    
SIZE="2">to be issued upon
exercise of
outstanding options,
SIZE="2">warrants and rights		 Weighted average
exercise price of
SIZE="2">outstanding
    options, warrants    
and rights		 Number of securities
remaining available
FACE="Times New Roman" SIZE="2">for future issuance
under equity
compensation plans
SIZE="2">    (excluding securities    
in column (a))
  (a) (1) (b) (1) (c) (2)

Equity compensation plans approved by shareholders

  9,473,259 $33.94 12,628,543

Equity compensation plans not approved by shareholders

  N/A N/A N/A

 






 (1)The amounts shown in columns (a) and (b) of the above table do not include 996,011 outstanding Common Shares (all of which are restricted and subject to vesting
requirements) that were granted under the Company’s Amended and Restated 1993 Share Option and Share Award Plan, as amended (the “1993 Plan”) and the Company’s 2002 Share Incentive Plan, as restated (the “2002 Plan”)
and outstanding Common Shares that have been purchased by employees and trustees under the Company’s ESPP.





 (2)Includes 8,742,816 Common Shares that may be issued under the 2002 Plan, of which only 25% may be in the form of restricted shares, and 3,885,727 Common Shares that may be sold to
employees and trustees under the ESPP.

The aggregate number of securities available for issuance (inclusive of restricted
shares previously granted and outstanding and shares underlying outstanding options) under the 2002 Plan equals 7.5% of the Company’s outstanding Common Shares, calculated on a fully diluted basis, determined annually on the first day of each
calendar year. On January 
1, 2009, this amount equaled 21,740,453, of which 8,742,816 shares were available for future issuance.

Common Shares Repurchased in the Quarter Ended
December 31, 2008

The Company repurchased the following Common Shares during the quarter ended December 31, 2008:

 




























































































Period

      Total Number    
SIZE="2">of Common
Shares
Purchased (1)		      Average Price    
SIZE="2">Paid Per
Share (1)		  Total Number of
Common Shares
SIZE="2">Purchased as Part of
Publicly Announced
    Plans or Programs (1)    
  Dollar Value of
Common Shares
FACE="Times New Roman" SIZE="2">that May Yet Be
    Purchased Under    
SIZE="2">the Plans or
Programs (1)

October 2008

  -      $-        -      $469,273,467  

November 2008

  48,924      $32.97    48,924      $467,660,443  

December 2008

  -      $-        -      $467,660,443  
              

Fourth Quarter 2008

  48,924      $32.97    48,924    

 






 (1)The Common Shares repurchased during the quarter ended December 31, 2008 represent Common Shares repurchased under the Company’s publicly announced share repurchase
program approved by its Board of Trustees. All 48,924 shares were repurchased from a Trustee at a price of $32.97 per share (the then current market price) to cover the minimum statutory tax withholding obligation related to the vesting of the
Trustee’s restricted shares. On December 3, 2007, the Board of Trustees approved a $500.0 million share repurchase program, of which $467.7 million remains available for repurchase as of December 31, 2008.
STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%">Equity Compensation Plan Information

SIZE="2">The following table provides information as of December 31, 2008 with respect to the Company’s Common Shares that may be issued under its existing equity compensation plans.

STYLE="margin-top:0px;margin-bottom:0px"> 


27






Table of Contents


















































Plan Category

      Number of securities    
SIZE="2">to be issued upon
exercise of
outstanding options,
SIZE="2">warrants and rights		 Weighted average
exercise price of
SIZE="2">outstanding
    options, warrants    
and rights		 Number of securities
remaining available
FACE="Times New Roman" SIZE="2">for future issuance
under equity
compensation plans
SIZE="2">    (excluding securities    
in column (a))
  (a) (1) (b) (1) (c) (2)

Equity compensation plans approved by shareholders

  9,473,259 $33.94 12,628,543

Equity compensation plans not approved by shareholders

  N/A N/A N/A

 






 (1)The amounts shown in columns (a) and (b) of the above table do not include 996,011 outstanding Common Shares (all of which are restricted and subject to vesting
requirements) that were granted under the Company’s Amended and Restated 1993 Share Option and Share Award Plan, as amended (the “1993 Plan”) and the Company’s 2002 Share Incentive Plan, as restated (the “2002 Plan”)
and outstanding Common Shares that have been purchased by employees and trustees under the Company’s ESPP.





 (2)Includes 8,742,816 Common Shares that may be issued under the 2002 Plan, of which only 25% may be in the form of restricted shares, and 3,885,727 Common Shares that may be sold to
employees and trustees under the ESPP.

The aggregate number of securities available for issuance (inclusive of restricted
shares previously granted and outstanding and shares underlying outstanding options) under the 2002 Plan equals 7.5% of the Company’s outstanding Common Shares, calculated on a fully diluted basis, determined annually on the first day of each
calendar year. On January 
1, 2009, this amount equaled 21,740,453, of which 8,742,816 shares were available for future issuance.

EXCERPTS ON THIS PAGE:

10-K (4 sections)
Feb 26, 2009

RELATED TOPICS for EQR:

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