Note 10. Stock Repurchase Program

The Company’s Board of Directors (Board) previously approved a stock repurchase program pursuant to which the Company was authorized to purchase up to $500.0 million of its common stock, and has periodically replenished the stock repurchase program to such amount. The Board replenished the stock repurchase program up to $500.0 million on December 3, 2013, as announced on December 4, 2013. The program does not obligate Synopsys to acquire any particular amount of common stock, and the program may be suspended or terminated at any time by Synopsys’ Chief Financial Officer or the Board. The Company repurchases shares to offset dilution caused by ongoing stock issuances from existing equity plans for equity compensation awards and issuances related to acquisitions, and when management believes it is a good use of cash. Repurchases are transacted in accordance with Rule 10b-18 of the Securities Exchange Act of 1934 (Exchange Act) and may be made through any means including, but not limited to, open market purchases, plans executed under Rule 10b5-1(c) of the Exchange Act and structured transactions. As of April 30, 2014, $420.3 million remained available for further repurchases under the program.

Stock repurchase activities are as follow:


	Three Months Ended April 30,				Six Months Ended April 30,
	2014		2013		2014		2013
	(in thousands, except per share price)
Shares repurchased		628		1,003		2,050		1,003
Average purchase price per share	$	39.81	$	34.90	$	38.90	$	34.90
Aggregate purchase price	$	25,000	$	34,998	$	79,747	$	34,998
Reissuance of treasury stock		1,281		2,639		2,587		3,709