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 “AOUT.” The holders of our common stock are entitled to one vote per share on any matter to be voted upon by the stockholders. All shares of common stock rank equally as to voting and all other matters. The shares of common stock have no preemptive or conversion rights, no redemption or sinking fund provisions, are not liable for further call or assessment, and are not entitled to cumulative voting rights.
Holders
On June 24, 2025, there were 223 record holders of our common stock. A substantially greater number of holders of common stock are “street name” or beneficial holders, whose shares are held of record by banks, brokers, and other financial institutions.
Dividend Policy
We have never declared or paid cash dividends on our common stock. We currently intend to retain all available funds and future earnings, if any, to fund the development and expansion of our business, and we do not anticipate paying any cash dividends on our common stock in the foreseeable future. Any future determination to pay dividends on our common stock will be made at the discretion of our Board of Directors and will depend on various factors, including applicable laws, our results of operations, financial condition, future prospects, the terms of our outstanding indebtedness, and any other factors deemed relevant by our Board of Directors.
Securities Authorized for Issuance under Equity Compensation Plans
For equity compensation plan information, refer to Item 12 (Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters) in Part III of this Annual Report on Form 10-K.
46
Table of Contents
Performance Graph
The following graph compares the cumulative total stockholder returns for the period from August 25, 2020 (the effective date of the registration of AOUT Common Stock) to April 30, 2025 for (i) our common stock; (ii) the Russell 2000 Index; and (iii) the S&P 500 Index. The graph assumes an investment of $100 on August 25, 2020 (first day of trading activity) through the last trading day of fiscal 2025. The calculation of cumulative stockholder return on the Russell 2000 Index and the S&P 500 Index include reinvestment of dividends, but the calculation of cumulative stockholder return on our common stock does not include reinvestment of dividends because we did not pay any dividends during the measurement period. The performance shown is not necessarily indicative of future performance.
COMPARISON OF CUMULATIVE TOTAL RETURN
Among American Outdoor Brands, Inc., the Russell 2000 Index,
and the S&P 500 Index
The performance graph above shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liability of that section. The performance graph above will not be deemed incorporated by reference into any filing of our company under the Securities Act of 1933, as amended, or the Securities Act.
Recent Sales of Unregistered Securities
None.
47
Table of Contents
Repurchases of Common Stock
As of April 30, 2025, we had one open authorized share repurchase program. The following table sets forth certain information relating to the purchases of our common stock by us and any affiliated purchasers within the meaning of Rule 10b-18(a)(3) under the Exchange Act during the fiscal year ended April 30, 2025 (dollars in thousands, except per share data):
Period Total # of
Shares
Purchased Average
Price Paid
Per Share (2) Total # of Shares Purchased as Part of Publicly Announced
Plan or
Program (1) Maximum Dollar Value of Shares that May Yet Be Purchased
Under the Plan
or Program
Total first quarter fiscal year 2025
42,017 $ 9.06 731,434 $ 6,902
Total second quarter fiscal year 2025
111,480 9.00 842,914 9,571
Total third quarter fiscal year 2025
117,090 10.03 960,004 8,398
February 1, 2025 to February 29, 2025
9,549 16.68 969,553 8,239
March 1, 2025 to March 31, 2025
21,369 13.11 990,922 7,959
April 1, 2025 to April 30, 2025
72,941 10.83 1,063,863 7,169
Total fourth quarter fiscal year 2025
103,859 11.84 1,063,863 7,169
Total year-to-date fiscal year 2025
374,446 $ 10.11 1,063,863 $ 7,169
(1) On September 30, 2022, our Board of Directors authorized the repurchase of up to $10.0 million of our common stock, subject to certain conditions, in the open market, in block purchases, or in privately negotiated transactions, executable through September 29, 2023. This authorization expired on September 29, 2023. On October 2, 2023, our Board of Directors authorized the repurchase of up to $10.0 million of our common stock, subject to certain conditions, in the open market, in block purchases, or in privately negotiated transactions, executable through September 30, 2024. On September 25, 2024, our Board of Directors approved a program to purchase up to $10.0 million of our common stock, subject to certain conditions, in the open market, in block purchases, or in privately negotiated transactions, commencing on October 1, 2024 and executable through September 30, 2025. During the years ended April 30, 2025 and 2024, under these authorizations, we repurchased a total of 374,446 and 689,417 shares, respectively, of our common stock for $3.8 million and $6.0 million, respectively, utilizing cash on hand. As of April 30, 2025, we have $7.2 million of available funds to repurchase our common stock under the current authorization.
(2) The average price per share excludes fees paid to acquire the shares.
Item 6. RESERVED
Not Applicable.
48
Table of Contents