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Repurchases of Helen of Troy Common Stock

6 Months Ended

Aug. 31, 2020

Equity [Abstract]

Repurchase of Helen of Troy Common Stock

Note 10 - Repurchase of Helen of Troy Common Stock

In May 2019, we announced that our Board of Directors authorized the repurchase of up to $400 million of our outstanding common stock.  The authorization was 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 August 31, 2020, our repurchase authorization allowed for the purchase of $382.8 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.

There were no open market purchases of common stock during the three and six month periods ended August 31, 2020 and 2019. The following table summarizes our share repurchase activity for the periods shown:

			Three Months Ended August 31,																		Six Months Ended August 31,
(in thousands, except share and per share data)			2020						2019						2020						2019
Common stock received in connection with share-based compensation:
Number of shares			780						2,354						61,625						70,558
Aggregate value of shares			$	148					$	344					$	10,161					$	9,131
Average price per share			$	189.64					$	145.96					$	164.88					$	129.42

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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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-URI http://asc.fasb.org/subtopic&trid=2208821

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