Alico, Inc. Annual report pursuant to section 13 and 15(d)

Annual report pursuant to section 13 and 15(d)

Treasury Stock

Treasury Stock

12 Months Ended

Sep. 30, 2013

Note 11. 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 2013 for the purpose of funding awards under its 2008 Incentive Equity Plan. In September 2013, the Board of Directors authorized the repurchase of up to 105,000 shares of the Company's common stock beginning in November 2013 and continuing through April 2018. The stock repurchases began in November 2008 and were made on a quarterly basis through open market transactions at times and in such amounts as the Company's broker determined subject to the provisions of SEC Rule 10b-18. The following table illustrates the Company's treasury stock purchases for the years ended September 30, 2013, 2012 and 2011:

(in thousands, except share amounts and per share amounts)
		Total Number of Shares Purchased		Average Price Paid Per Share		Total Shares Purchased as Part of Publicly Announced Plan or Program		Total Dollar Value of Shares Purchased

Fiscal Year Ended September 30,:
	2013		75,887	$	38.14		257,203	$	2,894
	2012		12,332	$	24.12		181,316	$	298
	2011		48,280	$	24.96		168,984	$	1,205

The following table outlines the Company's treasury stock transactions during the past three fiscal years:

(in thousands, except share amounts)	Shares			Cost

Balance at September 30, 2010		7,466		$	172
Purchased		48,280			1,205
Issued to Directors		(19,030	)		(465	)
Retired		(2,123	)		(50	)

Balance at September 30, 2011		34,593			862
Purchased		12,332			298
Issued to Directors		(23,690	)		(617	)

Balance at September 30, 2012		23,235			543
Purchased		75,887			2,894
Issued to Employees and Directors		(25,584	)		(621	)

Balance at September 30, 2013		73,538		$	2,816