A10 Networks, Inc. 10-K

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities Market for Registrant’s Common Equity Our common stock has been quoted on the New York Stock Exchange (“NYSE”) under the symbol “ATEN.” In October 2021, our Board of Directors approved the initiation of a regular quarterly cash dividend on our common stock. The first dividend, in the amount of $0.05 per share of common stock outstanding, was paid in December 2021. On November 1, 2022, the Company announced that our Board of Directors declared a quarterly dividend in the amount of $0.06 per share, such dividend which was paid on December 1, 2022 to stockholders of record on November 15, 2022. To date all cash dividends have been treated as a return of capital. We currently anticipate that we will continue to pay comparable quarterly cash dividends in the future. However, the payment, amount and timing of future dividends remain within the discretion of our Board and will depend upon our results of operations, financial condition, cash requirements, and other factors. There were approximately 74 stockholders of record on February 17, 2023. Because many shares of our common stock are held by brokers and other institutions on behalf of stockholders, we are unable to estimate the total number of stockholders represented by these holders of record. 48 Company Stock Performance The following graph compares the cumulative total return on our common stock, the NASDAQ Composite Index, the Russell 1000 Index and the NYSE Technology Index. The graph assumes $100 was invested on December 31, 2017 in our common stock and each index and all dividends were reinvested. The historic stock price performance is not necessarily indicative of future stock price performance. Comparison Of Cumulative Total Return Among A10 Networks, Inc., NASDAQ Composite, Russell 1000 Index and NYSE Technology Index Issuer Purchases of Equity Securities On November 1, 2022, we announced that our Board of Directors authorized a new, $50 million stock repurchase program (the “2022 Program”) under which we may repurchase up to $50 million of our outstanding common stock during the next 12 months. Under the stock repurchase program, we may repurchase shares of common stock in the open market, privately negotiated transactions, in block trades or a combination of the foregoing. We are not obligated under the stock repurchase program to repurchase any specific number or dollar amount of shares of common stock, and we may modify, suspend or discontinue the stock repurchase program at any time. Our management and Board will determine the timing and amount of any repurchase in its discretion based on a variety of factors, such as the market price of our common stock, corporate requirements, general market economic conditions and legal requirements. The Company plans to fund repurchases from its existing cash balance and cash provided by operating activities. No shares were repurchased by the Company during the three months ended December 31, 2022. Unregistered Sales of Equity Securities None. Item 6. [Reserved] 49