EPIC » Topics » Note 12. Treasury Stock

This excerpt taken from the EPIC 10-K filed Mar 12, 2007.

Note 12. Treasury Stock

The shares held in treasury were acquired by the Company as a result of the vesting of restricted stock, pursuant to the stock option exchange program executed in January 2001, and the issuance of restricted shares to the Company’s CEO and management. The Company repurchases a portion of the vested shares as consideration for the Company’s payment of the required withholding taxes. As of December 31, 2006, these repurchased shares are held in treasury and are available for future reissuance.

In conjunction with the quarterly vesting of the restricted stock issued in connection with the stock option exchange program and the issuance of restricted stock, the following treasury stock acquisitions were made during the years ended December 31, 2006 and 2005:

 

Quarter Ending

   Shares
acquired
   Value of
Shares

March 31, 2005

   114,366    $ 1,494,000

June 30, 2005

   114,366    $ 1,509,000

September 30, 2005

   114,367    $ 1,487,000

December 31, 2005

   114,367    $ 1,617,000

March 31, 2006

   —        —  

June 30, 2006

   —        —  

September 30, 2006

   12,513    $ 130,000

December 31, 2006

   6,116    $ 86,000
This excerpt taken from the EPIC 10-K filed Apr 14, 2006.

Note 12. Treasury Stock

The shares held in treasury were acquired by the Company as a result of the vesting of restricted stock, pursuant to the stock option exchange program executed in January 2001 and the issuance of restricted shares to the Company’s CEO (Note 13). The Company repurchased a portion of the vested shares as consideration for the Company’s payment of the required withholding taxes. As of December 31, 2005, these repurchased shares are held in treasury and are available for future reissuance.

In conjunction with the quarterly vesting of the restricted stock issued in connection with the stock option exchange program and the issuance of restricted shares to the Company’s CEO, the following treasury stock acquisitions were made during the years ended December 31, 2005 and 2004:

 

Vesting Date

   Shares acquired    Value of Shares

January 26, 2004

   10,017    $ 172,000

April 26, 2004

   8,707      126,000

June 30, 2004

   89,368      1,255,620

July 26, 2004

   8,468      93,000

September 30, 2004

   89,367      1,075,085

October 26, 2004

   8,469      128,807

December 31, 2004

   89,368      1,259,195

January 26, 2005

   10,066      141,000

March 31, 2005

   114,366      1,494,000

June 30, 2005

   114,366      1,509,000

September 30, 2005

   114,367      1,487,000

December 31, 2005

   114,367      1,617,000
This excerpt taken from the EPIC 10-K filed Mar 31, 2006.

Note 12. Treasury Stock

The shares held in treasury were acquired by the Company as a result of the vesting of restricted stock, pursuant to the stock option exchange program executed in January 2001 and the issuance of restricted shares to the Company’s CEO (Note 13). The Company repurchased a portion of the vested shares as consideration for the Company’s payment of the required withholding taxes. As of December 31, 2005, these repurchased shares are held in treasury and are available for future reissuance.

In conjunction with the quarterly vesting of the restricted stock issued in connection with the stock option exchange program and the issuance of restricted shares to the Company’s CEO, the following treasury stock acquisitions were made during the years ended December 31, 2005 and 2004:

 

Vesting Date

   Shares acquired    Value of Shares

January 26, 2004

   10,017    $ 172,000

April 26, 2004

   8,707      126,000

June 30, 2004

   89,368      1,255,620

July 26, 2004

   8,468      93,000

September 30, 2004

   89,367      1,075,085

October 26, 2004

   8,469      128,807

December 31, 2004

   89,368      1,259,195

January 26, 2005

   10,066      141,000

March 31, 2005

   114,366      1,494,000

June 30, 2005

   114,366      1,509,000

September 30, 2005

   114,367      1,487,000

December 31, 2005

   114,367      1,617,000
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