Note 7 – Repurchase of Helen of Troy Common Stock

On May 10, 2017, our Board of Directors authorized the repurchase of up to $400 million of our outstanding common stock. The new authorization is effective for a period of three years and replaced our existing repurchase authorization, of which approximately $82 million remained. These repurchases may include open market purchases, privately negotiated transactions, block trades, accelerated stock repurchase transactions, or any combination of such methods. The number of shares purchased and the timing of the purchases will depend on a number of factors, including share price, trading volume and general market conditions, working capital requirements, general business conditions, financial conditions, any applicable contractual limitations, and other factors, including alternative investment opportunities. As of November 30, 2017, our repurchase authorization allowed for the purchase of $364.9 million of common stock.

Our current equity-based compensation plans include provisions that allow for the “net exercise” of share settled awards by all plan participants. In a net exercise, any required payroll taxes, federal withholding taxes and exercise price of the shares due from the option holder can be paid for by having the option holder tender back to the Company a number of shares at fair value equal to the amounts due. Net exercises are treated as purchases and retirements of shares.

The following table summarizes our share repurchase activity for the periods shown:


	Three Months Ended November 30,				Nine Months Ended November 30,
(in thousands, except per share data)	2017		2016		2017		2016
Common stock repurchased on the open market or through tender offer:
Number of shares		311,100		922,731		311,100		922,731
Aggregate value of shares	$	29,158	$	75,000	$	29,158	$	75,000
Average price per share	$	93.72	$	81.28	$	93.72	$	81.28

Common stock received in connection with share-based compensation:
Number of shares		299		961		72,864		6,235
Aggregate value of shares	$	27	$	83	$	7,000	$	590
Average price per share	$	91.94	$	85.97	$	96.07	$	94.60