Repurchases of Helen of Troy Common Stock

12 Months Ended

Feb. 28, 2021

Repurchase of Helen of Troy Common Stock

Note 12 - Repurchases of Common Stock

In May 2019, our Board of Directors authorized the repurchase of up to $400 million of our outstanding common stock. The authorization is effective until May 2022 and replaced our former repurchase authorization, of which approximately $107.4 million was outstanding at the time the new authorization was approved. 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 February 28, 2021, our repurchase authorization allowed for the purchase of $189.7 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 settled by having the holder tender back to us 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:


	Fiscal Years Ended Last Day of February,
(in thousands, except share and per share data)	2021		2020		2019
Common stock repurchased on the open market:
Number of shares	960,829		—		1,875,469
Aggregate value of shares	$	191,606	$	—	$	212,080
Average price per share	$	199.42	$	—	$	113.08

Common stock received in connection with share-based compensation:
Number of shares	69,194		77,272		59,024
Aggregate value of shares	$	11,688	$	10,169	$	5,413
Average price per share	$	168.92	$	131.61	$	91.70