Sotheby's (NYSE:BID) announces a share repurchase program. Under the program, the company will repurchase up to $150 million worth of its common stock. The program will implement principally to offset the annual vesting of employee share-based payments. Board expects that common stock repurchases of approximately $25 million will be made by the end of 2014. The program will run for five years.

On March 15, 2016, the company adopted a Rule 10b5-1 plan for the purpose of repurchasing shares of its Common Stock in accordance with the guidelines specified under Rule 10b5-1 of the Securities Exchange Act of 1934. Repurchases are subject to SEC regulations as well as certain price, market volume and timing constraints specified in the plan. Sotheby's may terminate the plan at any time.

On September 15, 2016, the company adopted a Rule 10b5-1 plan for the purpose of repurchasing shares of its Common Stock in accordance with the guidelines specified under Rule 10b5-1 of the Securities Exchange Act of 1934. Repurchases are subject to SEC regulations as well as certain price, market volume and timing constraints specified in the plan. The company may terminate the plan at any time.