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
The common stock of Xperi Holding Corporation is listed on the Nasdaq Global Select Market under the symbol “XPER.” Prior to June 1, 2020 (the “TiVo Merger Date”), the common stock of Xperi Corporation (the predecessor company) was listed on the Nasdaq Global Select Market under the symbol “XPER.”
As of February 7, 2022, there were 103,276,142 outstanding shares of common stock held by 373 stockholders of record. In addition, a substantially greater number of stockholders may be “street name” or beneficial holders, whose shares are held of record by banks, brokers and other financial institutions.
We have historically returned capital to shareholders through cash dividends and stock repurchases. We anticipate that all quarterly dividends and stock repurchases will be paid out of cash, cash equivalents and short-term investments.
Stock Repurchases
On June 12, 2020, our Board of Directors authorized a stock repurchase program providing for the repurchase of up to $150 million of the Company's common stock. The timing, price and volume of repurchases will be based on market conditions, relevant securities laws and other factors. The stock repurchases may be made from time to time, through solicited or unsolicited transactions in the open market, in privately negotiated transactions, or pursuant to a Rule 10b5-1 plan. The program may be discontinued or amended at any time and has no specified expiration date. For example, as we plan for the separation of our Product business and IP Licensing business we may reduce or suspend share repurchases as we plan for the capital needs of two independent businesses. There is no guarantee that such repurchases under the program will enhance the value of our stock. On April 22, 2021, our Board of Directors approved an increase in the repurchase authorization under the program by $100.0 million. All repurchases in the three months ended December 31, 2021 were made under this program as described below :
Total number of
shares purchased
Average price
paid per share
Total number of
shares purchased
as part of our
share repurchase
program
Approximate
dollar value of
shares that may
yet be purchased
under our share
repurchase
program (a)
(in thousands, except share price)
2021
October
—
$
—
—
November
40
$
17.65
40
December
1,248
$
19.52
1,248
Total
1,288
$
19.46
1,288
$
95,031
(a) Calculated as of December 31, 2021.
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Stock P erformance G raph
The common stock of Xperi Holding Corporation commenced trading on June 2, 2020 following the completion of the Mergers. The following graph shows a comparison of total stockholder return for holders of our common stock, the Nasdaq Composite Index, the Russell 2000 Index and the S&P 500 from June 2, 2020 through December 31, 2021. The graph and table assume that $100 was invested on June 2, 2020 in each of our common stock, the Nasdaq Composite Index, the Russell 2000 Index and the S&P 500, and that all dividends were reinvested. This graphic comparison is presented pursuant to the rules of the SEC.
6/2/2020
6/30/2020
9/30/2020
12/30/2020
3/31/2021
6/30/2021
9/30/2021
12/31/2021
Xperi Holding Corporation
$
100.00
$
109.25
$
85.38
$
155.64
$
160.99
$
164.86
$
139.99
$
140.89
Nasdaq Composite
$
100.00
$
104.68
$
116.23
$
133.95
$
137.87
$
150.95
$
150.37
$
162.83
Russell 2000 Index
$
100.00
$
101.63
$
106.31
$
139.61
$
156.57
$
162.92
$
155.43
$
158.32
S&P 500
$
100.00
$
100.63
$
109.16
$
121.14
$
128.96
$
139.49
$
139.82
$
154.70
This section is not “soliciting material,” is not deemed “filed” with the SEC and is not incorporated by reference in any filing of the Company under the Securities Act of 1933 or the Securities Exchange Act of 1934 (“Exchange Act”), whether made before or after the date hereof and irrespective of any general incorporation language in any such filing.
Item 6. (Reserved )
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