1 unchanged sentence
Our common stock is traded on the NASDAQ Global Select Market under the symbol "ADTN" and the Frankfurt Stock Exchange under the symbol "QH9".
−Removed: As of February 27, 2023, we had 45 stockholders of record and approximately 19,485 beneficial owners of shares held in street name.
+Added: As of January 22, 2024, we had 47 stockholders of record and approximately 19,709 beneficial owners of shares held in street name.
+Added: We declared a quarterly dividend of $0.09 per share of common stock to record holders during each of the quarters through September 30, 2023.
+Added: On November 6, 2023, the Board of Directors suspended the Company’s quarterly cash dividend in order to reduce debt and interest expense and support the Company's capital efficiency program.
+Added: The payment of any future dividends will be at the discretion of the Board of Directors and will depend on the Company’s financial condition, results of operations, capital requirements, and any other factors deemed relevant by the Board of Directors.
+Added: In addition, the Wells Fargo Credit Agreement currently does not allow for the payment of dividends to shareholders.
+Added: For additional information, see Note 20 of Notes to Consolidated Financial Statements included in Part II, Item 8 and Liquidity & Capital Resources included in Part II, Item 7 of this report .
Performance Graph
−Removed: The graph below matches our cumulative 5-Year total shareholder return on common stock (specifically, the total shareholder return on ADTRAN, Inc.’s common stock for all periods prior to the Merger and that of ADTRAN Holdings, Inc.
+Added: The graph below matches our cumulative 5-Year total shareholder return on common stock (specifically, the total shareholder return on ADTRAN, Inc.’s common stock for all periods prior to the Merger and that of ADTRAN Holdings, Inc.
following the Merger) with the cumulative total returns of the NASDAQ Telecommunications index and the NASDAQ Composite index.
−Removed: The graph tracks the performance of a $100 investment in our common stock and in each index (with the reinvestment of all dividends) from 12/31/2017 to 12/31/2022.
+Added: The graph tracks the performance of a $100 investment in our common stock and in each index (with the reinvestment of all dividends) from December 31, 2018 to December 31, 2023.
* $100 invested on 12/31/18 in stock or index-including reinvestment of dividends.
1 unchanged sentence
ADTRAN Holdings, Inc.
−Removed: NASDAQ Telecommunications
NASDAQ Composite
+Added: NASDAQ Telecommunications
The stock price performance included in this graph is not necessarily indicative of future stock price performance.
−Removed: Stock Repurchases
+Added: Purchases of Equity Securities
The following table sets forth repurchases of our common stock for the months indicated.
7 unchanged sentences
Plans or Programs
−Removed: October 1, 2022 –
−Removed: October 31, 2022
−Removed: November 1, 2022 –
−Removed: November 30, 2022
−Removed: December 1, 2022 –
−Removed: December 31, 2022
−Removed: (1) During the year ended December 31, 2022, the Company did not repurchase any shares of Company Common Stock and there is no current authorization to repurchase Company Common Stock.
−Removed: We declared a quarterly dividend of $0.09 per share of common stock to record holders in each quarter of 2022.
−Removed: The declaration and payment by us of any future dividends to holders of our common stock is at the sole discretion of our Board of Directors.
+Added: October 1, 2023 – October 31, 2023
+Added: November 1, 2023 – November 30, 2023
+Added: December 1, 2023 – December 31, 2023
+Added: (1) During the year ended December 31, 2023, the Company did not repurchase any shares of Company common stock as part of a publicly announced plan or program and there is no current authorization to repurchase Company common stock.
+Added: The shares purchased relate to shares withheld to cover taxes for vested stock awards.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.