Common Stock

Share Repurchase Program

In October 2010, our Board of Directors authorized a $400,000 share repurchase program that has been extended to October 27, 2015, of which $124,095 was remaining for repurchase at December 28, 2013. Under the program, we may repurchase shares in the open market and through privately negotiated transactions. Our repurchases are funded with available borrowing capacity and cash. The timing and amount of specific repurchase transactions will depend upon market conditions, corporate considerations and applicable legal and regulatory requirements. Treasury shares are recorded at cost and are included as a component of stockholders’ equity in our consolidated balance sheet. We have issued shares of common stock out of our cumulative balance of treasury shares. Such shares are issued to certain of our associates upon the exercise of their options or vesting of their equity awards under the Ingram Micro Inc. 2011 Incentive Plan, as amended (see Note 12). We did not repurchase shares during the year ended December 28, 2013.

Our stock repurchase and issuance activity for 2013, 2012 and 2011 are summarized as follows:



	Shares Repurchased		Weighted- Average Price Per Share		Net Amount Repurchased
Cumulative balance at January 1, 2011	23,713		$	16.40	$	388,817
Repurchase of Class A Common Stock	12,476		18.11		225,905
Issuance of Class A Common Stock	(546	)	19.01		(10,391		)
Cumulative balance at December 31, 2011	35,643		16.96		604,331
Repurchase of Class A Common Stock	2,729		18.32		50,000
Issuance of Class A Common Stock	(343	)	18.27		(6,265		)
Cumulative balance at December 29, 2012	38,029		17.04		648,066
Issuance of Class A Common Stock	(508	)	17.24		(8,766		)
Cumulative balance at December 28, 2013	37,521		17.04		$	639,300

Classes of Common Stock

We have two classes of Common Stock, consisting of 500,000 authorized shares of $0.01 par value Class A Common Stock and 135,000 authorized shares of $0.01 par value Class B Common Stock, and 25,000 authorized shares of $0.01 par value Preferred Stock.

There were no issued and outstanding shares of Class B Common Stock or Preferred Stock during the three-year period ended December 28, 2013. The detail of changes in the number of outstanding shares of Class A Common Stock for the three-year period ended December 28, 2013, is as follows:



	Class A Common Stock
January 1, 2011	158,745
Stock options exercised	2,397
Release of restricted stock units, net of shares withheld for employee taxes	791
Grant of restricted Class A Common Stock	27
Repurchase of Class A Common Stock	(12,476	)
December 31, 2011	149,484
Stock options exercised	2,116
Release of restricted stock units, net of shares withheld for employee taxes	1,432
Grant of restricted Class A Common Stock	17
Repurchase of Class A Common Stock	(2,729	)
December 29, 2012	150,320
Stock options exercised	2,619
Release of restricted stock units, net of shares withheld for employee taxes	1,402
Grant of restricted Class A Common Stock	15
Repurchase of Class A Common Stock	—
December 28, 2013	154,356