Buy-back of physical shares: separate exchange window, identity verification and pricing by volume weighted average market price. Companies may buy back physical-form securities in the open market through a separate stock exchange window; brokers must verify identity and address of sellers. Pricing for physical tenders is the volume weighted average market price of securities bought back in the normal market during the calendar week of broker receipt, with a special rule for the first calendar week and a framework allowing exclusion of material price movements, and use of the prior buy-back week if no normal-market buy-back occurred in the relevant week.