Board approves $15B buyback program (7.6% of market cap) - The board today also authorized $15 billion in additional funds for use in the companys stock repurchase program. IBM said it will repurchase shares on the open market or in private transactions from time to time, depending on market conditions - This amount is in addition to approximately $5.6 billion remaining at the end of September 2013 from a prior authorization. With this new authorization, IBM will have approximately $20.6 billion for its stock repurchase program