STRYKER

Stryker 2014 Annual Report

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ITEM 3. LEGAL PROCEEDINGS. We are involved in various proceedings, legal actions and claims arising in the normal course of business, including proceedings related to product, labor and intellectual property, and other matters that are more fully described in Note 7 to the Consolidated Financial Statements in Item 8 of this report; this information is incorporated herein by reference. STRYKER CORPORATION 2014 Form 10-K 7 Dollar amounts in millions except per share amounts or as otherwise specified. ITEM 4. MINE SAFETY DISCLOSURES. Not applicable. PART II ITEM 5. MARKET FOR THE REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES. Our common stock is traded on the New York Stock Exchange under the symbol SYK. Quarterly stock price and dividend information for the years ended December 31, 2014 and 2013 were as follows: 2014 Quarter Ended Mar 31 Jun 30 Sep 30 Dec 31 Dividends declared per share of common stock $ 0.305 $ 0.305 $ 0.305 $ 0.345 Market price of common stock: High 83.86 86.93 85.91 98.24 Low 74.02 75.78 78.91 77.87 2013 Quarter Ended Mar 31 Jun 30 Sep 30 Dec 31 Dividends declared per share of common stock $ 0.265 $ 0.265 $ 0.265 $ 0.305 Market price of common stock: High 66.92 70.00 71.94 75.55 Low 55.24 63.35 63.71 66.93 Our Board of Directors considers payment of cash dividends at each of its quarterly meetings. On January 31, 2015, there were 3,285 shareholders of record of our common stock. In December of 2012 and 2011, we announced that our Board of Directors had authorized us to purchase up to $405 and $500, respectively, of our common stock (the 2012 and 2011 Repurchase Programs, respectively). The manner, timing and amount of purchases is determined by management based on an evaluation of market conditions, stock price and other factors and is subject to regulatory considerations. Purchases are to be made from time to time in the open market, in privately negotiated transactions or otherwise. Shares repurchased under the share repurchase programs are available for general corporate purposes, including offsetting dilution associated with stock option and other equity-based employee benefit plans. During the year ended December 31, 2014 we repurchased 1.3 million shares at a cost of $100 under the 2011 Repurchase Program. As of December 31, 2014, the maximum dollar value of shares that may yet be purchased under the 2011 Repurchase Program was $178. We have not made any repurchases pursuant to the 2012 Repurchase Program in 2014. The activity pursuant to the 2011 Repurchase Program for the three months ended December 31, 2014 is summarized as follows: Period Total Number of Shares Purchased Average Price Paid Per Share Total Number of Shares Purchased as Part of Publicly Announced Plan Maximum Dollar Value of Shares that may yet be Purchased Under the Plan 10/1/2014-10/31/2014 — $ — — $ 178 11/1/2014-11/30/2014 — — — 178 12/1/2014-12/31/2014 — — — 178 Total — $ — — The following graph compares our total returns (including reinvestments of dividends) against the Standard & Poor's (S&P) 500 Index and the S&P 500 Health Care Index. The graph assumes $100 (not in millions) invested on December 31, 2009 in our Common Stock and each of the indices. Stryker Corporation S&P 500 Index S&P 500 Health Care Index COMPARISON OF CUMULATIVE FIVE YEAR TOTAL RETURN 260 240 220 200 180 160 140 120 100 80 Index Value 12/31/09 12/31/10 12/31/11 12/31/12 12/31/13 12/31/14 Period Ending Company / Index 2009 2010 2011 2012 2013 2014 Stryker Corporation 100.00 107.89 101.29 113.54 158.16 201.50 S&P 500 Index 100.00 115.06 117.49 136.30 180.44 205.14 S&P 500 Health Care Index 100.00 102.90 116.00 136.75 193.45 242.46

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