Following the reduction in the holding held by Corvex, Keith Meister also resigned from the company's board of directors. Earlier ADT Corp (NYSE : ADT ) entered into a share repurchase agreement to buy back $400 million worth of common stock. The total value of shares that have been authorized for repurchasing amounted to $2.0 billion, and was expected to be completed in the first six months of 2014. In November, the board authorized to increase the amount of repurchased shares by $1.0 billion, the extended program planned to end by November 2015. For the fiscal year 2013, ADT Corp (NYSE : ADT ) reported revenue worth over $3.3 billion, up from $3.2 billion reported for the previous fiscal year. In the fourth quarter alone, the revenue went up by an annual 4.2% to $846 million. The net income of the company also increased and totalled $421 million for the full FY 2013, and $96 million for the fourth quarter, up by 6.9% and 2.1% on the year respectively. The stock of ADT has been down by almost 12% since the beginning of the year, trailing a P/E ratio of 23.