This excerpt taken from the SFG 8-K filed May 24, 2007.
StanCorp Financial Group, Inc. Announces New Share Repurchase Program
PORTLAND, Ore., May 23, 2007 StanCorp Financial Group, Inc. (StanCorp) (NYSE: SFG) announced today that its board of directors has authorized a repurchase program for up to 6 million shares of StanCorp common stock.
The repurchase plan was adopted in connection with the offering of Fixed-to-Floating Rate Income Capital Obligation Notes® (ICONS) due 2067 with purchases under the plan to commence after the closing of the sale of the ICONS. The new repurchase program will be effected in the open market or in negotiated transactions through December 31, 2008 and replaces StanCorps existing share repurchase program, which had approximately 1.2 million shares remaining. Under the previously authorized plan, StanCorp repurchased 1.8 million shares from December 2005 through May 2007 at an average volume-weighted price of $46.46 per share.