Education Management Corporation's Equity Buyback in the amount of $375 mm has expired
On September 14, 2010, Education Management adopted a Rule 10b5-1 plan. A broker selected by Education Management will have the authority under the terms and limitations specified in the plan to repurchase shares on Education Management's behalf in accordance with the terms of the plan.
On December 8, 2010, the Board of Directors increased the share repurchase program from $50 million to $150 million and extended the program to December 31, 2011.
On March 11, 2011, the Board increased the authorization from $150 million to $250 million.
On August 5, 2011, the Board increased the authorization in the amount of $75 million thereby increasing the authorization to $325 million. The program will terminate on December 31, 2011.
On October 28, 2011, the Board extended the program till June 30, 2012.
On December 15, 2011, the Board increased the authorization from $325 million to $375 million. The program will terminate on December 31, 2012.
Education Management Corporation's share repurchase program expired on December 31, 2012. Under the plan, the company has repurchased 18,902,340 shares for $328.61 million.