ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND 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 US$900 million under, our share repurchase program announced in 2015, or the 2015 Share Repurchase Program.
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addition, our equity incentive award agreements generally provide that, in the event of a grantee's termination for cause or violation of a non-competition undertaking, we will have
the right to repurchase the shares acquired by the grantee, generally at par or the exercise price paid for these shares. See "Item 6. Directors, Senior Management and
Employees — B. Compensation — Equity Incentive Plans." In addition, when an employee leaves our company, we repurchase any
shares acquired by the employee pursuant to early-exercised but unvested options.
The
table below summarizes the repurchases we made in the periods indicated.
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Month
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Total Number of
Ordinary
Shares
Purchased
(1)
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Total Price
Paid
(1)
(US$)
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Average Price
Paid Per
Ordinary
Share
(1)
(US$)
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Total Number of
Ordinary
Shares
Purchased as
Part of Share
Repurchase
Program
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Approximate
Dollar Value of
Ordinary Shares
that May Yet Be
Purchased
Under Share
Repurchase
Program
(2)
(US$, in millions)
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April, 2017
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—
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—
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—
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—
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900
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May 2017
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—
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—
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—
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—
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6,000
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June 2017
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—
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—
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—
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—
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6,000
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July 2017
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—
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—
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—
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—
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6,000
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August 2017
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—
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—
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—
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—
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6,000
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September 2017
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—
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—
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—
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—
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6,000
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October 2017
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—
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—
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—
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—
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6,000
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November 2017
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—
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|
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—
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|
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—
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—
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6,000
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December 2017
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—
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—
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—
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—
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6,000
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January 2018
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—
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—
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—
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—
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6,000
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February 2018
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4,871
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—
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Par value
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—
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6,000
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March 2018
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—
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—
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—
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—
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6,000
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(1)
-
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.
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(2)
-
Our
2017 Share Repurchase Program, which was adopted in May 2017 and replaces, and cancels the remaining US$900 million 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.
