Broadcom Inc. 10-K

ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES Market Information Broadcom common stock is listed on The Nasdaq Global Select Market under the symbol “AVGO”. Holders As of November 25, 2022, there were 1,060 holders of record of our common stock. A substantially greater number of stockholders are “street name” or beneficial holders, whose shares are held of record by banks, brokers and other financial institutions. Unregistered Sales of Equity Securities On August 1, 2022, we issued 9,923 restricted shares of our common stock to one individual in connection with our acquisition of a company. The restrictions lapse over three years subject to the individual's continued employment. The issuance of these shares was exempt from registration under the Securities Act of 1933, as amended, in reliance upon Section 4(a)(2) thereof. Issuer Purchases of Equity Securities During the fiscal quarter ended October 30, 2022, we paid approximately $274 million in employee withholding taxes due upon the vesting of net settled equity awards. We withheld approximately 1 million shares of common stock from employees in connection with such net share settlement at an average price of $502.62 per share. These shares may be deemed to be “issuer purchases” of shares. In December 2021, our Board of Directors authorized a stock repurchase program to repurchase up to $10 billion of our common stock from time to time on or prior to December 31, 2022. During fiscal year 2022, we repurchased and retired approximately 12 million shares of our common stock for $7 billion under this stock repurchase program. In May 2022, our Board of Directors authorized another stock repurchase program to repurchase up to an additional $10 billion of our common stock from time to time through December 31, 2023. Repurchases under our stock repurchase programs may be effected through a variety of methods, including open market or privately negotiated purchases. The timing and amount of shares repurchased will depend on the stock price, business and market conditions, corporate and regulatory requirements, alternative investment opportunities, acquisition opportunities, and other factors. We are not obligated to repurchase any specific amount of shares of common stock, and the stock repurchase programs may be suspended or terminated at any time. 33 Table of Contents Stock Performance Graph The following graph shows a comparison of cumulative total return for our common stock, the Standard & Poor’s 500 Stock Index (the “S&P 500 Index”) and the NASDAQ 100 Index for the five fiscal years ended October 30, 2022. The total return graph and table assume that $100 was invested on October 27, 2017 (the last trading day of our fiscal year 2017) in each of Broadcom Inc. common stock, the S&P 500 Index and the NASDAQ 100 Index and assume that all dividends are reinvested. Indexes are calculated on a month-end basis. The comparisons in the graph below are based on historical data and are not indicative of, or intended to forecast, the possible future performance of our common stock. Comparison of Five Year Cumulative Total Return Among Broadcom Inc., the S&P 500 Index and the NASDAQ 100 Index October 29, 2017 November 4, 2018 November 3, 2019 November 1, 2020 October 31, 2021 October 30, 2022 Broadcom Inc. $ 100.00 $ 89.74 $ 125.30 $ 154.78 $ 242.74 $ 222.41 S&P 500 Index $ 100.00 $ 107.58 $ 123.66 $ 134.35 $ 192.01 $ 165.18 NASDAQ 100 Index $ 100.00 $ 113.29 $ 134.24 $ 183.52 $ 265.05 $ 194.63 The graph and the table above shall not be deemed “filed” with the SEC for the purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing made by us with the SEC, regardless of any general incorporation language in such filing. ITEM 6. [RESERVED] 34 Table of Contents