NOTE 11 — SHAREHOLDERS' EQUITY

On October 2, 2018, the Company's Board of Directors authorized a share repurchase program for up to $200.0 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. 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.

During the year ended January 31, 2019, the Company repurchased $107.0 million of its common stock under the program. As of January 31, 2019, the Company had $93.0 million available for future repurchases of its common stock under the authorized share repurchase program. Subsequent to January 31, 2019, the Company’s Board of Directors authorized the repurchase of up to an additional $100.0 million of the Company's common stock.

The Company’s common share repurchase and issuance activity for fiscal 2019 and 2018 is summarized as follows:



	Shares		Weighted- average price per share
Treasury stock balance at January 31, 2017	24,018,983		$	44.59
Shares of treasury stock reissued for equity incentive plans	(149,609	)
Shares of treasury stock reissued for acquisition of TS	(2,785,402	)
Treasury stock balance at January 31, 2018	21,083,972		44.59
Shares of common stock repurchased under share repurchase program	1,429,154		74.89
Shares of treasury stock reissued for equity incentive plans	(207,662	)
Treasury stock balance at January 31, 2019	22,305,464		$	46.53

As part of the acquisition of TS, the Company reissued 2,785,402 shares of Tech Data's common stock out of treasury stock (see Note 5 – Acquisitions for further discussion).