Repurchase of Helen of Troy Common Stock

On May 20, 2019, we announced that our Board of Directors had authorized the repurchase of up to $400 million of our outstanding common stock. The authorization is effective May 8, 2019, for a period of three years, and replaced Helen of Troy’s previous repurchase authorization, of which approximately $107.4 million remained. These repurchases may include open market purchases, privately negotiated transactions, block trades, accelerated stock repurchase transactions, or any combination of such methods. The number of shares purchased and the timing of the purchases will depend on a number of factors, including share price, trading volume and general market conditions, working capital requirements, general business conditions, financial conditions, any applicable contractual limitations, and other factors, including alternative investment opportunities. As of May 31, 2019, our repurchase authorization allowed for the purchase of $394.4 million of common stock.

Our current equity-based compensation plans include provisions that allow for the “net exercise” of share-settled awards by all plan participants. In a net exercise, any required payroll taxes, federal withholding taxes and exercise price of the shares due from the equity holder can be paid for by having the equity holder tender back to the Company a number of shares at fair value equal to the amounts due. Net exercises are treated as purchases and retirements of shares.

The following table summarizes our share repurchase activity for the periods shown:



	Three Months Ended May 31,
(in thousands, except share and per share data)	2019		2018
Common stock repurchased on the open market:
Number of shares	—		407,025
Aggregate value of shares	$	—	$	37,067
Average price per share	$	—	$	91.07

Common stock received in connection with share-based compensation:
Number of shares	68,204		49,595
Aggregate value of shares	$	8,788	$	4,481
Average price per share	$	128.85	$	90.36