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Shareholders' Equity
 9 Months Ended
Sep. 30, 2016
Stockholders' Equity Note [Abstract]  
Shareholders' Equity
SHAREHOLDERS’ EQUITY
A summary of shares repurchased under our stock repurchase program authorized by our Board of Directors follows:
 
Three Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
 
2016
 
2015
 
2016
 
2015
Shares repurchased
1.0

 
2.5

 
9.9

 
3.5

Aggregate purchase price
$
50.0

 
$
150.0

 
$
470.6

 
$
209.1

Average purchase price per share
$
48.62

 
$
59.83

 
$
47.48

 
$
60.54



In October 2016, our Board of Directors authorized the repurchase of an additional $250.0 million of shares of our common stock. As of October 26, 2016, $315.9 million remained available for share repurchases under the program.
A summary of shares of common stock issued in connection with the exercise of stock options follows:
 
Three Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
 
2016
 
2015
 
2016
 
2015
Shares issued
0.1

 
0.2

 
0.3

 
1.1

Proceeds from the exercise of stock options
$
4.6

 
$
5.4

 
$
7.8

 
$
24.1

Average exercise price per share
$
35.55

 
$
26.94

 
$
30.93

 
$
22.55



The following table presents a summary of shares of common stock issued in connection with grants of restricted stock and shares surrendered to AutoNation to satisfy tax withholding obligations in connection with the vesting of restricted stock (in actual number of shares):
 
Three Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
 
2016
 
2015
 
2016
 
2015
Shares issued
—

 
2,360

 
138,424

 
159,442

Shares surrendered to AutoNation to satisfy tax withholding obligations in connection with the vesting of restricted stock
4,788

 
500

 
37,673

 
36,427