Explanation:

• Option A (Correct): Share repurchases reduce the number of outstanding shares. A decrease in the number of shares outstanding, all else being equal, will increase the EPS.

• Option B (Incorrect): Secondary stock issuances increase the number of outstanding shares. An increase in the number of shares outstanding, all else being equal, will decrease the EPS.

• Option C (Incorrect): Equity-based compensation increases the number of outstanding shares. An increase in the number of shares outstanding, all else being equal, will decrease the EPS.