Stockholders' Equity

12 Months Ended

Dec. 31, 2013

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders’ Equity

Treasury Stock

2008 Stock Repurchase Program

In February 2008, our Board of Directors authorized a stock repurchase program, (the "2008 Repurchase Program") for the repurchase of up to $90.0 million of our common stock. The timing, price and volume of the repurchases have been based on market conditions, relevant securities laws and other factors.

For the year ended December 31, 2012, we repurchased 898,168 shares at an average cost of $13.76 per share, including commissions. For the year ended December 31, 2011, we repurchased 889,511 shares at an average cost of $14.13 per share, including commissions. All repurchased shares were recorded as treasury stock and were accounted for under the cost method. No repurchased shares have been retired. Additionally, for the years ended December 31, 2013, 2012 and 2011, we withheld 103,229 shares, 79,968 shares and 43,174 shares, respectively, from employees to satisfy tax withholding obligations on the vesting of restricted stock.

From the inception of the 2008 Repurchase Program in February 2008 through December 31, 2012, we repurchased a total of 5,853,975 shares at an average cost of $15.37 per share through open market purchases. As of December 31, 2012, we have completed the 2008 Repurchase Program having repurchased $90.0 million of our common stock.

2012 Stock Repurchase Program

On August 1, 2012, our Board of Directors established a new stock repurchase program (the "2012 Repurchase Program") authorizing share repurchases of up to $50.0 million of our common stock, with no termination date. The timing, price and volume of repurchases will be based on market conditions, relevant securities laws and other factors. The stock repurchases may be made from time to time on the open market, in privately negotiated transactions or pursuant to a Rule 10b-18 plan. The stock repurchase program does not obligate us to repurchase any specific number of shares, and Omnicell may terminate or suspend the repurchase program at any time

For the year ended December 31, 2013, and from the inception of the 2012 Repurchase Program, we have repurchased a total of $21.0 million, or 884,645 shares at an average cost of $23.70 per share, including commissions. As of December 31, 2013, the maximum dollar value of shares that may yet be purchased under the plan is $29.1 million.