Wyndham Worldwide (WYN)

 

On August 20, 2007, our Board of Directors authorized a stock repurchase program that enables us to purchase up to $200 million of our common stock. The Board of Directors’ authorization included increased repurchase capacity for proceeds received from stock option exercises. During the year ended December 31, 2008, repurchase capacity increased $5 million from proceeds received from stock option exercises. We suspended such program during the third quarter of 2008 and expect to defer further share repurchases until the macro-economic outlook and credit environment are more favorable. We currently have $155 million remaining availability in our program. The amount and timing of specific repurchases are subject to market conditions, applicable legal requirements and other factors. Repurchases may be conducted in the open market or in privately negotiated transactions.

 

Below is the summary of our Wyndham common stock repurchases by month for the quarter ended December 31, 2007:

 

																		Approximate Dollar
													Total Number of					Value of Shares that
			Total Number										Shares Purchased as					May Yet Be
			of Shares					Average Price					Part of Publicly					Purchased Under
Period			Purchased					Paid per Share					Announced Plan					Plan
October 1 – 31, 2007				234,800				$	32.69					234,800				$	179,197,518
November 1 – 30, 2007				358,500				$	27.72					358,500				$	169,275,646
December 1 – 31, 2007 (*)				377,000				$	25.13					377,000				$	163,388,205
Total				970,300				$	27.92					970,300				$	163,388,205

 

On August 20, 2007, our Board of Directors authorized a stock repurchase program that enables us to purchase up to $200 million of our common stock. From the inception of the program through December 31, 2007, we repurchased 1.5 million shares at an average price of $29.07. In addition, we completed previous stock repurchase programs during 2007 by repurchasing 13 million shares at an average price of $34.92. The Board of Directors’ 2007 authorization included increased repurchase capacity for proceeds received from stock option exercises. From the inception of the program through December 31, 2007, repurchase capacity increased $5 million from proceeds received from stock option exercises. During the period January 1, 2008 through February 28, 2008, we repurchased an additional 472,800 shares at an average price of $22.19. As of February 28, 2008, we have $155 million remaining availability in our program. The amount and timing of specific repurchases are subject to market conditions, applicable legal requirements and other factors. Repurchases may be conducted in the open market or in privately negotiated transactions.