ALIBABA GROUP HOLDING LTD filed this 20-F on 06/15/2017
ALIBABA GROUP HOLDING LTD - 20-F - 20170615 - PURCHASES_OF_EQUITY

ITEM 16E.    PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS

       On August 12, 2015, we announced the implementation of the 2015 Share Repurchase Program in an aggregate amount of up to US$4.0 billion over a period of two years. We have repurchased ADSs representing our ordinary shares on the open market under purchase plans adopted to implement the 2015 Share Repurchase Program. In addition, Jack Ma, our executive chairman, and Joe Tsai, our executive vice chairman, have jointly

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entered into our plans as affiliated purchasers. On May 18, 2017, we announced the adoption of the 2017 Share Repurchase Program in an aggregate amount of up to US$6.0 billion over a period of two years. The new program replaced, and cancelled the remaining amount under, our 2015 Share Repurchase Program.

       On June 2, 2016, we entered into a share purchase agreement with SoftBank, pursuant to which we repurchased 27,027,027 ordinary shares from SoftBank.

       In addition, our equity incentive award agreements generally provide that, in the event of a grantee's termination for cause or violation of a non-competition undertaking, we will have the right to repurchase the shares acquired by the grantee, generally at par or the exercise price paid for these shares. See "Item 6. Directors, Senior Management and Employees — B. Compensation — Equity Incentive Plans." In addition, when an employee leaves our company, we repurchase any shares acquired by the employee pursuant to early-exercised but unvested options.

       The table below summarizes the repurchases we made in the periods indicated.

Month
  Total Number of
Ordinary
Shares
Purchased (1)
  Total Price
Paid (1)
(US$)
  Average Price
Paid Per
Ordinary
Share (2)
(US$)
  Total Number of
Ordinary
Shares
Purchased as
Part of Share
Repurchase
Program (3)
  Approximate
Dollar Value of
Ordinary Shares
that May Yet Be
Purchased
Under Share
Repurchase
Program (4)
(US$, in millions)
 

April, 2016

    50,000     925,000     18.50         900  

May 2016

    39,375     728,438     18.50         900  

June 2016

    27,040,777     2,000,254,373     73.97         900  

July 2016

    75,000     1,387,500     18.50         900  

August 2016

    6,250     115,625     18.50         900  

September 2016

    26,112         Par value         900  

October 2016

    6,250     115,625     18.50         900  

November 2016

    875     88,979     101.69         900  

December 2016

                    900  

January 2017

                    900  

February 2017

                    900  

March 2017

                    900  

(1)
Includes (i) 27,027,027 ordinary shares we repurchased from SoftBank in June 2016 and (ii) an aggregate of 217,612 ordinary shares, including 190,625 ordinary shares underlying unvested awards, we repurchased pursuant to our equity incentive award agreements.
(2)
Ordinary shares we repurchased pursuant to our equity incentive award agreements were generally repurchased at par or the exercise price paid by the grantee for these shares.
(3)
Includes only those ADSs representing our ordinary shares we repurchased pursuant to the 2015 Share Repurchase Program.
(4)
Our 2015 Share Repurchase Program, implemented in August 2015, authorized the repurchase in an aggregate amount of up to US$4.0 billion over a period of two years. We have utilized US$3.1 billion under the 2015 Share Repurchase Program. Our 2017 Share Repurchase Program, which was adopted in May 2017 and replaces, and cancels the remaining amount under, the 2015 Share Repurchase Program, authorized the repurchase in an aggregate amount of up to US$6.0 billion over a period of two years.