SPRINGFIELD, Mo. – O’Reilly Automotive’s board of directors has approved a resolution to increase the authorization amount under its share repurchase program by an additional $500 million, raising the aggregate authorization under the program to $3.5 billion.
 
The additional $500 million authorization is effective for a three-year period, beginning on May 29, 2013. Stock repurchases under the program may be made from time to time, as the company deems appropriate, solely through open market purchases effected through a broker dealer at prevailing market prices, based on a variety of factors such as price, corporate requirements and overall market conditions.
 
Founded in 1957 by the O’Reilly family, the company currently operates 4,041 stores in 42 states, as of March 31, 2013.