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PNC » Topics » I TEM 2. U NREGISTERED S ALES OF E QUITY S ECURITIES AND U SE OF P ROCEEDS

This excerpt taken from the PNC 10-Q filed May 11, 2009.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

(c) Details of our repurchases of PNC common stock during the first quarter of 2009 are included in the following table:

In thousands, except per share data

 

2009 period  

Total shares
purchased

(a) (b)

   Average
price
paid per
share		   Total shares
purchased as
part of
publicly
announced
programs (c)		   Maximum
number of
shares that
may yet be
purchased
under the
programs (c)

January 1 – January 31

   422   $ 39.02     24,710

February 1 – February 28

   294   $ 27.94     24,710

March 1 – March 31

   396   $ 26.71     24,710
           

Total

   1,112   $ 31.71        
(a) Under the US Treasury’s TARP Capital Purchase Program, there are restrictions on dividends and common share repurchases associated with the preferred stock that we issued to the US Treasury under that program on December 31, 2008. As is typical with cumulative preferred stocks, dividend payments for this preferred must be current before dividends can be paid on junior shares, including our common stock, or junior shares can be repurchased or redeemed. Also, under the TARP Capital Purchase Program agreements, the US Treasury’s consent will be required for any increase in common dividends per share above the most recent level prior to October 14, 2008 until the third anniversary of the preferred issuance unless all of that preferred has been redeemed or is no longer held by the US Treasury. Further, during that same period, the US Treasury’s consent will be required, unless the preferred stock is no longer held by the US Treasury, for any share repurchases with limited exceptions, most significantly purchases of common shares in connection with any benefit plan in the ordinary course of business consistent with past practice.
(b) Reflects PNC common stock purchased in connection with our various employee benefit plans. No shares were purchased under the program referred to in note (c) to this table during the first quarter of 2009.
(c) Our current stock repurchase program allows us to purchase up to 25 million shares on the open market or in privately negotiated transactions. This program was authorized on October  4, 2007 and will remain in effect until fully utilized or until modified, superseded or terminated.
This excerpt taken from the PNC 10-Q filed Nov 6, 2008.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

(c) Details of our repurchases of PNC common stock during the third quarter of 2008 are included in the following table:

In thousands, except per share data

 

2008 period   Total shares
purchased (a) (b)		   Average
price
paid per
share		   Total shares
purchased as
part of
publicly
announced
programs (c)		   Maximum
number of
shares that
may yet be
purchased
under the
programs (c)

July 1 – July 31

   589   $ 67.80     24,710

August 1 – August 31

   395   $ 71.77     24,710

September 1 – September 30

   663   $ 76.27     24,710
           

Total

   1,647   $ 72.16        
(a) As indicated in the US Treasury’s term sheet describing the TARP Capital Purchase Program, there will be restrictions on dividends and common share repurchases associated with the preferred stock that we plan to issue to the US Treasury in accordance with that program. As is typical with cumulative preferred stock, dividend payments for this preferred stock must be current before dividends can be paid on junior shares, including our common stock, or junior shares can be repurchased or redeemed. Also, the US Treasury’s consent will be required for any increase in common dividends per share until the third anniversary of the preferred stock issuance as long as the US Treasury continues to hold any of the preferred stock. Further, during that same period, the US Treasury’s consent will be required, unless the preferred stock is no longer held by the US Treasury, for any share repurchases with limited exceptions, most significantly purchases of common shares in connection with any benefit plan in the ordinary course of business consistent with past practice.
(b) Reflects PNC common stock purchased in connection with our various employee benefit plans. No shares were purchased under the program referred to in note (b) to this table during the third quarter of 2008.
(c) Our current stock repurchase program allows us to purchase up to 25 million shares on the open market or in privately negotiated transactions. This program was authorized on October 4, 2007 and will remain in effect until fully utilized or until modified, superseded or terminated.

 

This excerpt taken from the PNC 10-Q filed Aug 8, 2008.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

(c) Details of our repurchases of PNC common stock during the second quarter of 2008 are included in the following table:

In thousands, except per share data

 

2008 period   Total shares
purchased (a)		   Average
price
paid per
share		   Total shares
purchased as
part of
publicly
announced
programs (b)		   Maximum
number of
shares that
may yet be
purchased
under the
programs (b)

April 1 – April 30

   211   $ 68.37     24,710

May 1 – May 31

   164   $ 69.18     24,710

June 1 – June 30

   142   $ 60.46     24,710
           

Total

   517   $ 66.46        
(a) Reflects PNC common stock purchased in connection with our various employee benefit plans. No shares were purchased under the program referred to in note (b) to this table during the second quarter of 2008.
(b) Our current stock repurchase program allows us to purchase up to 25 million shares on the open market or in privately negotiated transactions. This program was authorized on October 4, 2007 and will remain in effect until fully utilized or until modified, superseded or terminated.
This excerpt taken from the PNC 10-Q filed Nov 9, 2006.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

(c) Details of our repurchases of PNC common stock during the third quarter of 2006 are included in the following table:

In thousands, except per share data

2006 period

    Total shares    
purchased (1)    		    
 
 
 		 Average    
price    
paid per    
share    		    Total    
shares    
purchased    
as part of    
publicly    
announced    
programs (2)    		   Maximum  
number of  
shares  
that may  
yet be  
purchased  
under the  
programs (2)  

July 1 –  

July 31

    833       $ 69.89        700       17,062    

August 1 –  

August 31

    859       $ 70.53        700       16,362    

September 1 -  

September 30

    663       $ 72.10        535       15,827    

Total

    2,355       $ 70.75        1,935        
(1) Includes PNC common stock purchased under the program referred to in note (2) to this table, if any, and PNC common stock purchased in connection with our various employee benefit plans.
(2) Our current stock repurchase program, which was authorized as of February 16, 2005, allows us to purchase up to 20 million shares on the open market or in privately negotiated transactions. This program will remain in effect until fully utilized or until modified, superseded or terminated.

 

This excerpt taken from the PNC 10-Q filed Aug 9, 2006.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

(c) Details of our repurchases of PNC common stock during the second quarter of 2006 are included in the following table:

In thousands, except per share data

2006 period

    Total shares    
purchased (1)    		   Average    
price    
paid per    
share    		    Total shares    
purchased as    
part of    
publicly    
announced    
programs (2)    		   Maximum  
number of  
shares that  
may yet be  
purchased  
under the  
programs (2)  

April 1 –  

April 30

    432           $68.81        205       19,317

May 1 –  

May 31

    1,030           $69.34        770       18,547

June 1-  

June 30

    893           $68.68        785       17,762

Total

    2,355           $68.99        1,760        
(1) Includes PNC common stock purchased under the program referred to in note (2) to this table, if any, and PNC common stock purchased in connection with our various employee benefit plans.
(2) Our current stock repurchase program, which was authorized as of February 16, 2005, allows us to purchase up to 20 million shares on the open market or in privately negotiated transactions. This program will remain in effect until fully utilized or until modified, superseded or terminated.

 

This excerpt taken from the PNC 10-Q filed May 9, 2006.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

(c) Details of our repurchases of PNC common stock during the first quarter of 2006 are included in the following table:

In thousands, except per share data

2006 period    Total shares    
purchased (1)    		    Average    
price    
paid per    
share    		    Total shares    
purchased as    
part of    
publicly    
announced    
programs (2)    		    Maximum  
number of  
shares that  
may yet be  
purchased  
under the  
programs (2)  

January 1 –  

January 31

    251            $64.50        —    19,522

February 1 –  

February 28

    634            $68.23        —    19,522

March 1 –

March 31

    289            $69.06        —    19,522

  Total

    1,174            $67.64        —      
(1) Includes PNC common stock purchased under the program referred to in note (2) to this table, if any, and PNC common stock purchased in connection with our various employee benefit plans.
(2) Our current stock repurchase program, which was authorized as of February 16, 2005, allows us to purchase up to 20 million shares on the open market or in privately negotiated transactions. This program will remain in effect until fully utilized or until modified, superseded or terminated. We did not purchase any shares under this program during the first quarter of 2006.

EXCERPTS ON THIS PAGE:

10-Q
May 11, 2009
10-Q
Nov 6, 2008
10-Q
Aug 8, 2008
10-Q
Nov 9, 2006
10-Q
Aug 9, 2006
10-Q
May 9, 2006

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