Quarterly report pursuant to sections 13 or 15(d)

Treasury Stock

v2.3.0.11
Treasury Stock
 3 Months Ended
Dec. 31, 2011
Treasury Stock [Abstract]  
Treasury Stock

Note 8. Treasury Stock

Effective November 1, 2008, the Company's Board of Directors authorized the repurchase of up to 350,000 shares of the Company's common stock through November 1, 2013 for the purpose of funding restricted stock grants under its 2008 Equity Incentive Plan (the "2008 Plan"), which was approved by shareholders on February 20, 2009. Prior to November 2008, Alico provided incentives under its 1998 Equity Incentive Plan, and was authorized to purchase up to 650,000 shares. The stock repurchases began in November 2005 and can be made on a quarterly basis until November 1, 2013, through open market transactions at times and in such amounts as the Company's broker determines subject to the provisions of SEC Rule 10b-18.

The following table provides information relating to purchases of the Company's common shares on the open market pursuant to the 2008 Plan for the three months ended December 31, 2011:

 

     Shares     Cost  

Balance September 30, 2011

      34,593      $ 862   

Purchases

      —          —     

Issuances

      (6,897 )      (180 ) 
  

 

 

    

 

 

  

Balance December 31, 2011

      27,696      $ 682   
  

 

 

    

 

 

  

In accordance with the approved plan, the Company may purchase an additional 272,754 shares.