STOCKHOLDERS' EQUITY

12 Months Ended

Sep. 30, 2015

STOCKHOLDERS EQUITY [Abstract]

STOCKHOLDERS EQUITY

15.   STOCKHOLDERS' EQUITY

The following is a summary of our capital stock activity over the past three years:

	Number of Shares
	Common Stock		Treasury Stock
September 30, 2012		28,864,527		5,682,288
Exercise of stock options		1,071,750
Restricted stock under EIP, net of forfeitures		185,925
Restricted stock under Deposit Share Plan, net of forfeitures		6,773
Common stock under ESPP		84,602
Repurchases of common stock under share repurchase plans				1,144,836
Repurchases of common stock – other				39,551
September 30, 2013		30,213,577		6,866,675
Exercise of stock options		1,449,002
Restricted stock under EIP and OIP, net of forfeitures		176,026
Restricted stock under Deposit Share Plan, net of forfeitures		7,296
Common stock under ESPP		81,700
Repurchases of common stock under share repurchase plans				1,229,494
Repurchases of common stock – other				46,518
September 30, 2014		31,927,601		8,142,687
Exercise of stock options		1,324,646
Restricted stock under EIP and OIP, net of forfeitures		172,010
Restricted stock under Deposit Share Plan, net of forfeitures		(811)
Common stock under ESPP		65,735
Repurchases of common stock under share repurchase plans				851,245
Repurchases of common stock – other				47,746
September 30, 2015		33,489,181		9,041,678

COMMON STOCK

Each share of common stock, including those awarded as restricted stock, but not restricted stock units, entitles the holder to one vote on all matters submitted to a vote of Cabot Microelectronics' stockholders.  Common stockholders are entitled to receive ratably the dividends, if any, as may be declared by the Board of Directors.  The number of authorized shares of common stock is 200,000,000 shares.

SHARE REPURCHASES

In April 2014, our Board of Directors authorized an increase in the amount available under our share repurchase program from $62,000 to $150,000.  Under this program, we repurchased 851,245 shares for $40,026 during fiscal 2015, 1,229,494 shares for $53,000 during fiscal 2014, and 1,144,836 shares for $40,000 during fiscal 2013. As of September 30, 2014, $84,975 remains available under our share repurchase program.  To date, we have funded share repurchases under our share repurchase program from our existing cash balance, and anticipate we will continue to do so.  The program, which became effective on the authorization date, may be suspended or terminated at any time, at the Company's discretion.  For additional information on share repurchases, see Part II, Item 5, "Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities" and the section titled "Liquidity and Capital Resources" in Part II, Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations" of this Form 10-K.

Separate from this share repurchase program, a total of 47,746 46,518 and 39,551 shares were purchased during fiscal 2015, 2014 and 2013, respectively, pursuant to the terms of our EIP and OIP as shares withheld from award recipients to cover payroll taxes on the vesting of shares of restricted stock granted under the EIP and OIP.