Note 13 – Common Stock Activity

Treasury Stock

During the fourth quarter of 2011, the Company's Board of Directors authorized the repurchase of up to $150.0 million of MasTec common stock under a stock repurchase program. During the year ended 2011, the Company repurchased 4,593,663 shares of MasTec common stock at an average price of $16.33 per share. Under the share repurchase program, the Company may repurchase shares from time to time in open market transactions or in privately-negotiated transactions in accordance with applicable federal securities laws. The timing and the amount of any repurchases will be determined based on the Company's evaluation of market conditions, share price and other factors. The stock repurchase program expires one year from the date of authorization and may be modified or suspended at any time, at the Company's discretion. Stock repurchases will be funded with available cash or with availability under the Credit Facility.

The Company may use either authorized and unissued shares or treasury shares to meet share requirements, including those resulting from the exercise of stock options, vesting of restricted stock awards and/or other share issuance requirements.

A summary of common stock and treasury stock activity for the periods indicated is as follows:


	Common Shares Outstanding			Treasury Shares
Balance as of December 31, 2009		75,954,004			—

Shares issued for stock options		231,599
Shares issued for restricted stock		96,426
Other shares issued		58,160
Shares issued for acquisition		1,875,000

Balance as of December 31, 2010		78,215,189			—

Shares issued for stock options		1,132,396
Shares issued for restricted stock		613,198
Other shares issued		72,102
Shares issued for acquisition		5,129,642
Common stock repurchases		(4,593,663	)		4,593,663

Balance as of December 31, 2011		80,568,864			4,593,663