Annual report pursuant to Section 13 and 15(d)

Treasury Stock

v3.5.0.2
Treasury Stock
 12 Months Ended
Sep. 30, 2016
Stockholders' Equity Note [Abstract]  
Treasury Stock
Treasury Stock
 
In fiscal year 2015, the Board of Directors authorized the repurchase of up to 170,000 shares of the Company’s common stock beginning March 25, 2015 and continuing through December 31, 2016. The stock repurchases were made 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.

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 fiscal years ended September 30, 2016, 2015 and 2014:
(in thousands, except 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,:
 

 
 

 
 

 
 
2016
78,446

 
$
40.04

 
545,995

 
$
3,141

2015
91,554

 
$
43.83

 
467,549

 
$
4,013

2014
118,792

 
$
40.78

 
375,995

 
$
4,844



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, 2013
73,538

 
$
2,816

Purchased
118,792

 
4,844

Issued to Employees and Directors
(176,564
)
 
(7,010
)
 
 
 
 
Balance at September 30, 2014
15,766

 
650

Purchased
91,554

 
4,013

Issued to Employees and Directors
(16,755
)
 
(701
)
 
 
 
 
Balance at September 30, 2015
90,565

 
3,962

Purchased
78,446

 
3,141

Issued to Employees and Directors
(35,478
)
 
(1,035
)
Issued to former Silver Nip Citrus equity holders
(32,923
)
 
(1,483
)
 
 
 
 
Balance at September 30, 2016
100,610

 
$
4,585