7. Treasury Stock

In March 2013, the Board of Directors (the “Board”) approved a $200.0 million share repurchase program for our common stock. This approval amended and increased the Company’s existing $150.0 million share repurchase program authorized by the Board in January 2011, which had a remaining authorization of $45.2 million at the time of amendment.

During the first quarter of 2012, 861,484 shares at a cost of $33.6 million were repurchased at an average price per share of $39.01 under the Board’s January 2011 authorization. During the first quarter of 2013, 989,182 shares at a cost of $32.8 million were repurchased at an average price per share of $33.21 under the Board’s March 2013 authorization. At May 4, 2013, the remaining balance available under the Board’s March 2013 authorization was $167.2 million.

During the first quarter of 2013 and 2012, 5,378 shares and 7,041 shares, respectively, at a cost of $0.2 million and $0.3 million, respectively, were repurchased at an average price per share of $30.03 and $37.28, respectively, in private transactions to satisfy tax withholding obligations arising upon the vesting of certain restricted stock.

The following table summarizes our total common stock repurchases (in thousands, except share data and average price per share):

	For the Quarter Ended
	May 4, 2013		April 28, 2012

Shares repurchased	994,560		868,525
Total costs	$	33,009	$	33,866
Average price per share	$	33.19	$	38.99

In February 2013, 3,666 treasury shares of our common stock were reissued pursuant to a two-year service agreement with an unrelated third party. The fair value of the common stock issued was approximately $0.1 million.