AMERICAN SUPERCONDUCTOR CORP /DE/ 10-K

Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES Market Information Our common stock has been listed on the Nasdaq Global Select Market under the symbol “AMSC” since 1991. Holders The number of holders of record of our common stock on May 22, 2026 was 190 . Dividend Policy We have never paid cash dividends on our common stock. We currently intend to retain earnings, if any, to fund the development and growth of our business and do not anticipate paying cash dividends for the foreseeable future. Payment of future cash dividends, if any, will be at the discretion of our board of directors after taking into account various factors, including our financial condition, operating results, current and anticipated cash needs and plans for expansion. 36 Stock Performance Graph The following graph compares the cumulative total stockholder return on our common stock from March 31, 2021 to March 31, 2026 with the cumulative total return of (i) the Nasdaq Composite Index and (ii) the Nasdaq Electrical Components & Equipment Index. This graph assumes the investment of $100.00 on March 31, 2021 in our common stock, the Nasdaq Composite Index and the Nasdaq Electrical Components & Equipment Index, and assumes any dividends are reinvested. Measurement points are March 31, 2021; March 31, 2022; March 31, 2023; March 31, 2024; March 31, 2025; and March 31, 2026. COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN Among American Superconductor Corporation, the Nasdaq Composite Index and the Nasdaq Electrical Components & Equipment Index Fiscal year ended March 31, Company/Index 2021 2022 2023 2024 2025 2026 American Superconductor Corporation 100.00 40.14 25.90 71.26 95.68 178.53 Nasdaq Composite Index 100.00 108.06 93.71 126.58 134.65 169.11 Nasdaq Electrical Components & Equipment Index 100.00 99.54 103.98 122.91 137.90 274.77 Item 6. RESERVED 37