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Repurchase of Helen of Troy Common Stock | 9 Months Ended
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Nov. 30, 2015
Repurchase of Helen of Troy Common Stock |
Repurchase of Helen of Troy Common Stock | Note 14 – Repurchase of Helen of Troy Common Stock As of November 30, 2015, we were authorized by our Board of Directors to purchase up to $209.02 million of common stock in the open market or through private transactions. Our current equity-based compensation plans include provisions that allow for the “net exercise” of stock options by all plan participants. In a net exercise, any required payroll taxes, federal withholding taxes and exercise price of the shares due from the option holder can be paid for by having the option holder tender back to the Company a number of shares at fair value equal to the amounts due. These transactions are accounted for by the Company as a purchase and retirement of shares and are included in the table below as common stock received in connection with share-based compensation. The following table summarizes our share repurchase activity for the periods covered below: SHARE REPURCHASES
|  | Three Months Ended November 30, |  | Nine Months Ended November 30, |
|  | 2015 |  | 2014 |  | 2015 |  | 2014 |
Common stock repurchased on the open market or through tender offer |  |  |  |  |  |  |  |  |  |  |  |  |
Number of shares |  |  | - |  |  | - |  |  | 556,591 |  |  | 4,102,143 | (2)
Aggregate value of shares (in thousands) |  | $ | - |  | $ | - |  | $ | 50,000 |  | $ | 273,599 |
Average price per share |  | $ | - |  | $ | - |  | $ | 89.83 |  | $ | 66.70 |
Common stock received in connection with share-based compensation |  |  |  |  |  |  |  |  |  |  |  |  |
Number of shares |  |  | 116,012 | (1) |  | - |  |  | 117,294 |  |  | 70,079 | (3)
Aggregate value of shares (in thousands) |  | $ | 6,292 | (1) | $ | - |  | $ | 6,411 |  | $ | 4,686 |
Average price per share |  | $ | 54.24 | (1) | $ | - |  | $ | 54.66 |  | $ | 66.87 |
| (1) |  | On November 17, 2015, in connection with the settlement of the lawsuit previously discussed in Note 3 to the accompanying consolidated condensed financial statements, the Company issued 276,548 shares of common stock as payment of separation compensation due to our former CEO under his employment and separation agreements. Our former CEO tendered 116,012 shares back to the Company as payment for related federal tax obligations. Under the terms of the settlement, employment and separation agreements, the number of shares issued and tendered was computed based upon a value of $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 Company previously accrued and disclosed the separation compensation in fiscal year 2014.
| (2) |  | 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.
| (3) |  | 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.

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- Definition The entire disclosure for treasury stock, including, but not limited to, average cost per share, description of share repurchase program, shares repurchased, shares held for each class of treasury stock. + References No definition available. + Details
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