Stockholders' Equity

9 Months Ended

Jun. 28, 2013

Stockholders' Equity

12. STOCKHOLDERS’ EQUITY

Stock Repurchase Program

On August25, 2011, the Company entered into an accelerated share repurchase agreement with BofA (the “August 2011 Repurchase Agreement”). Pursuant to the August 2011 Repurchase Agreement, the Company paid to BofA $250 million and BofA delivered 3,849,638 shares of VMS common stock, representing approximately 85% of the shares to be repurchased. The remaining $37.5 million, representing approximately 15% of the cash payment to BofA, was recorded as an equity forward contract. The repurchase period ended in February 2012 and the Company received an additional 375,449 shares of VMS common stock upon the settlement of the August 2011 Repurchase Agreement.

In August 2012, the VMS Board of Directors authorized the repurchase of 8million shares of VMS common stock from September29, 2012 through December31, 2013. Shares may be repurchased in the open market, in privately negotiated transactions (such as the August 2011 and similar accelerated repurchase programs) or under Rule 10b5-1 share repurchase plans, and may be made from time to time or in one or more blocks. The Company repurchased a total of 1,250,000 and 4,150,000 shares of VMS common stock during the three and nine months ended June28, 2013, respectively. As of June28, 2013, 3,850,000 shares of VMS common stock remained available for repurchase under this repurchase authorization. Including the 375,449 shares received upon the settlement of the August 2011 Repurchase Agreement, the Company repurchased a total of 3,000,000 shares of VMS common stock during the nine months ended June 29, 2012, of which 1,500,000 shares were repurchased in the three months ended June 29, 2012.  All shares that were repurchased have been retired.