Item 5. Market for Registrant’s Common Equity
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Market Information
Our common stock trades on The Nasdaq Global Select Market under the symbol “ACTG.”
Holders of Common Stock
On March 12, 2025, there were 52 owners of record of our common stock. The foregoing does not include the number of shareholders whose shares are nominally held by banks, brokerage houses or other institutions, but includes each such institution as one record holder.
Dividend Policy
The current policy of our board of directors is to retain earnings, if any, to provide for our growth. Consequently, we do not expect to pay any cash dividends in the foreseeable future. Further, there can be no assurance that our proposed operations will generate revenues and cash flow needed to declare any future cash dividends or that we will have legally available funds to pay future dividends.
The decision to institute a dividend is at the discretion of, and rests with Acacia’s Board of Directors.
Securities Authorized for Issuance under Equity Compensation Plans
Information required by this item is incorporated by reference to our Definitive Proxy Statement for our 2025 Annual Meeting of Stockholders.
Recent Sales of Unregistered Securities
None.
Stock Repurchases
Issuer Purchases of Equity Securities (1)
Total Number
of Shares
Purchased Average
Price
Paid per
Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Approximate Dollar
Value of Shares that
May Yet be Purchased
under the Program
(In thousands)
October 1, 2024 - October 31, 2024 1,175,872 $ 4.64 1,175,872 $ 7,310
November 1, 2024 - November 30, 2024 798,398 $ 4.50 798,398 $ 3,721
December 3, 2024 - December 31, 2024 846,969 $ 4.50 846,969 $ —
Total repurchases in the quarter 2,821,239 $ 4.56 2,821,239
(1) On November 9, 2023, the Board approved a stock repurchase program (the “Repurchase Program”) for up to $20.0 million of the Company’s common stock, subject to a cap of 5,800,000 shares of common stock. The Repurchase Program has no time limit and does not require the repurchase of a minimum number of shares. The common stock may be repurchased on the open market, in block trades, or in privately negotiated transactions, including under plans complying with the provisions of Rule 10b5-1 and Rule 10b-18 of the Exchange Act of 1934, as amended. Under the Repurchase Program as of December 31, 2024, we have repurchased a total of 4,358,361 shares at an average price per share of $4.61,
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for a total of $20.0 million. As of December 31, 2024, the Repurchase Program has been completed. Refer to Note 16 to the consolidated financial statements elsewhere herein for additional information.
ITEM 6. [Reserved]
Not applicable.
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