SHAREHOLDERS’ EQUITY

During fiscal 2015, the Company’s Board of Directors authorized a share repurchase program for the repurchase of up to a total of $100.0 million of the Company’s common stock. In conjunction with the Company's share repurchase program, a 10b5-1 plan was executed that instructs the broker selected by the Company to repurchase shares on behalf of the Company. The amount of common stock repurchased in accordance with the 10b5-1 plan on any given trading day is determined by a formula in the plan, which is based on the market price of the Company's common stock and average daily volumes. Shares repurchased by the Company are held in treasury for general corporate purposes, including issuances under equity incentive and benefit plans. The reissuance of shares from treasury stock is based on the weighted average purchase price of the shares.

The Company’s common share repurchase and issuance activity for fiscal 2015 and 2014 is summarized as follows:



	Shares		Weighted- average price per share
Treasury stock balance at January 31, 2013	21,436,566		$	42.26
Shares of treasury stock reissued	(259,436	)
Treasury stock balance at January 31, 2014	21,177,130		42.26
Shares of common stock repurchased under share repurchase program	896,718		59.10
Shares of treasury stock reissued	(207,779	)
Treasury stock balance at January 31, 2015	21,866,069		$	42.95