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REPURCHASE OF HELEN OF TROY COMMON STOCK (Tables)
 12 Months Ended
Feb. 29, 2016
Repurchase of Helen of Troy Common Stock  
Summary of share repurchase activity

SHARE REPURCHASES

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal Years Ended the Last Day of February,

 

   

2016

   

2015

   

2014

Common stock repurchased on the open market or through tender offer:

 

 

 

 

 

 

 

 

 

Number of shares

 

 
1,126,796

(1)

 
4,102,143

(3)

 
33,862

Aggregate value of shares (in thousands)

 

$
100,000

 

$
273,599

 

$
1,311

Average price per share

 

$
88.75

 

$
66.70

 

$
38.71

 

 

 

 

 

 

 

 

 

 

Common stock received in connection with share-based compensation:

 

 

 

 

 

 

 

 

 

Number of shares

 

 
117,294

(2)

 
71,950

(4)

 
112,677

Aggregate value of shares (in thousands)

 

$
6,411

 

$
4,826

 

$
6,937

Average price per share

 

$
54.66

 

$
67.08

 

$
61.57

 

 

(1)

Includes two open market purchases at a total cost of $50 million each, in the second and fourth quarters of fiscal year 2016, for 556,591 and 570,205 shares respectively.

 

(2)

On November 17, 2015, in connection with the settlement of the lawsuit previously discussed in Note (3) to these

consolidated financial statements, the Company issued 276,548 shares of common stock as payment for $15 million in separation compensation due to our former CEO under his employment and separation agreements, which was previously accrued in fiscal year 2014. Our former CEO tendered back to the Company 116,012 shares as payment for $12.00 million in related federal income tax withholding obligations. Under the terms of the employment and separation agreements, the number of shares issued and tendered were valued at $54.24 per share. This was the fair value of the shares on September 4, 2014, the date the compensation payment would have been made, if payment had not been delayed by the associated dispute. The balance of 1,282 shares were repurchased in connection with net exercises by other Company employees during the first quarter of fiscal year 2016.

 

(3)

Includes a modified “Dutch auction” tender offer completed on March 14, 2014, resulting in the repurchase of 3,693,816 shares of our outstanding common stock at a total cost of $247.83 million, including tender offer transaction-related costs.

 

(4)

Includes 68,086 shares of common stock having a market value of $67.10 per share, or $4.57 million in the aggregate, which were tendered by our former CEO as payment for related federal tax obligations arising from the vesting and settlement of performance-based restricted stock units and restricted stock awards.