Veru Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Note 8 - Stock Repurchase Program

Note 8 - Stock Repurchase Program

12 Months Ended

Sep. 30, 2013

Treasury Stock Acquired, Repurchase Authorization [Abstract]

Treasury Stock Acquired, Repurchase Authorization

Note 8. Stock Repurchase Program

The Company’s Stock Repurchase Program was announced on January 17, 2007. At initiation, the plan’s terms specified that up to 1,000,000 shares of its common stock could be purchased during the subsequent twelve months. Subsequently, the Board has amended the plan a number of times to both extend its term and increase the maximum number of shares which could be repurchased. Currently, the plan allows for a maximum repurchase of up to 3,000,000 shares through the period ending December 31, 2013. From the program’s onset through September 30, 2013, the total number of shares repurchased by the Company is 2,014,454. The Stock Repurchase Program authorizes purchases in privately negotiated transactions as well as in the open market. In October 2008, the Company's Board of Directors authorized repurchases in private transactions under the Stock Repurchase Program of shares issued under the Company's equity compensation plans to directors, employees and other service providers at the market price on the effective date of the repurchase request. Total repurchases under this provision currently are limited to an aggregate of 450,000 shares per calendar year and to a maximum of 50,000 shares annually per individual. Private repurchase transactions for fiscal year 2013, 2012 and 2011 were 45,625, 34,000 and 5,750 shares, respectively. Open market repurchase transactions for fiscal year 2013, 2012, and 2011 were 10,000, 10,000, and 0 shares, respectively.

Issuer Purchases of Equity
Securities:	Details of Treasury Stock Purchases to Date through September 30, 2013:
	Total		Average			Aggregate Number		Maximum Number
	Number		Price Paid			of Shares Purchased		of Shares that May
	of Shares		Per			As Part of Publicly		Yet be Purchased
Period	Purchased		Share			Announced Program		Under the Program
January 1, 2007 – September 30, 2010		1,909,079		$	3.31		1,909,079		1,090,921
October 1, 2010 – September 30, 2011		5,750			5.75		1,914,829		1,085,171
October 1, 2011 – September 30, 2012		44,000			6.58		1,958,829		1,041,171
October 1, 2012 – September 30, 2013		55,625			7.11		2,014,454		985,546
Total		2,014,454		$	3.51		2,014,454		985,546