. as of december 31 , 2016 , shares reserved for issuance to employees under this plan totaled 0.5 million and republic held employee contributions of approximately $ 1.5 million for the purchase of common stock . 12 . stock repurchases and dividends stock repurchases stock repurchase activity during the years ended december 31 , 2016 and 2015 follows ( in millions except per share amounts ) : .