Which one of the following statements related to stock buybacks is correct?
Stock buybacks are a means of obtaining shares for employee stock option grants.
Stock buybacks are becoming rare and may soon disappear totally.
In 2007 and 2008, U.S. companies issued more shares than they repurchased.
Firms are permitted only one large share repurchase program.
Share repurchases are limited to 10 percent of the firm's outstanding shares.