Annual report pursuant to Section 13 and 15(d)

Stock Repurchase Program

v3.10.0.1
Stock Repurchase Program
12 Months Ended
Jun. 30, 2018
Equity [Abstract]  
STOCK REPURCAHSE PROGRAM
NOTE 9 — STOCK REPURCHASE PROGRAM
The Company’s Board of Directors has authorized a program for the Company to repurchase shares of the Company’s common stock. The intent of this program is to offset the dilution from KLA-Tencor’s equity incentive plans and employee stock purchase plan, as well as to return excess cash to the Company’s stockholders. Subject to market conditions, applicable legal requirements and other factors, the repurchases were made in the open market in compliance with applicable securities laws, including the Securities Exchange Act of 1934 and the rules promulgated thereunder such as Rule 10b-18 and Rule 10b5-1. On March 16, 2018, the Company’s Board of Directors canceled the existing repurchase program and authorized a new repurchase program which permits the Company to repurchase up to $1.00 billion of its common stock, or up to $2.00 billion if the Orbotech Merger closes. This new stock repurchase program has no expiration date and may be suspended at any time. As of June 30, 2018, an aggregate of approximately $961.9 million was available for repurchase under the Company’s repurchase program.
Share repurchases for the indicated periods (based on the trade date of the applicable repurchase) were as follows: 
(In thousands)
Year ended June 30,
2018
 
2017
 
2016
Number of shares of common stock repurchased
1,960

 
243

 
3,445

Total cost of repurchases
$
203,169

 
$
25,002

 
$
175,743