AVIAT NETWORKS, INC. 10-K

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities Market Information on Common Stock Aviat’s common stock is listed and primarily traded on the NASDAQ Global Select Market (“NASDAQ”), under the ticker symbol AVNW. According to the records of the Company’s transfer agent, as of September 9, 2025, there were approximately 1,530 holders of record of Aviat’s common stock. Dividend Policy The Company has not paid cash dividends on its common stock and does not intend to pay cash dividends at this time. The Company intends to retain any earnings for use in its business. In addition, the covenants of the Company’s credit facility may restrict it from paying dividends or making other distributions to its stockholders under certain circumstances. Refer to Note 7. Credit Facility and Debt of the Notes to the consolidated financial statements in this Annual Report on Form 10-K for further information. Sales of Unregistered Securities During fiscal 2025, the Company did not issue or sell any unregistered securities not previously reported on Form 10-Q or 8-K. Issuer Purchases of Equity Securities In November 2021, the Company’s Board of Directors approved a stock repurchase program to purchase up to $10.0 million of its common stock. As of June 27, 2025, $6.3 million remains available under the stock repurchase program, and the Company may choose to suspend or discontinue the repurchase program at any time. During the fourth quarter of fiscal 2025, the Company did not repurchase any shares of its common stock. 37 Performance Graph The following graph and accompanying data compare the cumulative total return of Aviat’s common stock, the NASDAQ Composite Index and the NASDAQ Telecommunications Index for the five-year period ended June 27, 2025. The comparison assumes $100 was invested on July 3, 2020, in the Company’s common stock and each of the indices and assumes reinvestment of dividends. The historical stock price performance shown below is not indicative of future price performance. Note that this graph and accompanying data is “furnished,” not “filed,” with the SEC. COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN Among Aviat Networks, Inc., the NASDAQ Composite Index and the NASDAQ Telecommunications Index 07/03/20 07/02/21 07/01/22 06/30/23 06/28/24 06/27/25 Aviat Networks, Inc. $ 100.00 $ 342.98 $ 269.93 $ 358.97 $ 308.58 $ 257.46 NASDAQ Composite $ 100.00 $ 144.44 $ 110.56 $ 138.22 $ 179.14 $ 206.23 NASDAQ Telecommunications $ 100.00 $ 133.36 $ 106.76 $ 103.68 $ 116.41 $ 150.86 Item 6 . [Reserved] 38