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These excerpts taken from the HBI 10-K filed Feb 19, 2008. Share
Repurchase Program
On February 1, 2007, we announced that our Board of
Directors granted authority for the repurchase of up to
10 million shares of our common stock. Share repurchases
are made periodically in open-market transactions, and are
subject to market conditions, legal requirements and other
factors. Additionally, management has been granted authority to
establish a trading plan under
Rule 10b5-1
of the Exchange Act in connection with share repurchases, which
will allow use to repurchase shares in the open market during
periods in which the stock trading window is otherwise closed
for our company and certain of our officers and employees
pursuant to our insider trading policy. During 2007, we
purchased 1.6 million shares of our common stock at a cost
of $44.5 million (average price of $27.55). The primary
objective of our share repurchase program is to reduce the
impact of dilution caused by the exercise of options and vesting
of stock unit awards.
Share Repurchase Program On February 1, 2007, we announced that our Board of Directors granted authority for the repurchase of up to 10 million shares of our common stock. Share repurchases are made periodically in open-market transactions, and are subject to market conditions, legal requirements and other factors. Additionally, management has been granted authority to establish a trading plan under Rule 10b5-1 of the Exchange Act in connection with share repurchases, which will allow use to repurchase shares in the open market during periods in which the stock trading window is otherwise closed for our company and certain of our officers and employees pursuant to our insider trading policy. During 2007, we purchased 1.6 million shares of our common stock at a cost of $44.5 million (average price of $27.55). The primary objective of our share repurchase program is to reduce the impact of dilution caused by the exercise of options and vesting of stock unit awards. | EXCERPTS ON THIS PAGE:
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