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
We have two authorized and outstanding classes of equity securities: Class A Common Stock, $.001 par value per share, and Class B Common Stock, $.001 par value per share. The only difference between the Class A and Class B Common Stock is that Class A is entitled to one vote per share and Class B is entitled to ten votes per share. Class B is convertible into Class A shares on a one-for-one share basis under certain circumstances. Our Class A Common Stock trades on the NASDAQ Global Market under the symbol “BBGI.” There is no established public trading market for our Class B Common Stock.
Holders
As of March 18, 2025, there were approximately 281 holders of record of our Class A Common Stock and 24 holders of record of our Class B Common Stock. The number of holders of Class A Common Stock does not count separately the number of beneficial holders whose shares are held of record by a broker or clearing agency.
Dividends
Our Board has suspended future quarterly dividend payments until it is determined that resumption of dividend payments is in the best interest of the Company’s stockholders. In addition, the Indenture governing our Notes limits our ability to pay dividends.
Repurchases of Equity Securities
The following table presents information with respect to purchases we made of our Class A Common Stock during the three months ended December 31, 2024.
Period
Total Number of Shares Purchased
Average Price Paid per Share
Total Number of Shares Purchased as Part of Publicly Announced Program
Approximate Dollar Value That May Yet Be Purchased Under the Program
October 1 – 31, 2024
—
—
—
$
—
November 1 – 30, 2024
—
—
—
—
December 1 – 31, 2024
934
$
9.17
—
—
Total
934
On March 27, 2007, our Board approved the Beasley Broadcast Group, Inc. 2007 Equity Incentive Award Plan (the “2007 Plan”). The original ten-year term of the 2007 Plan ended on March 27, 2017. Our stockholders approved an amendment to the 2007 Plan at the Annual Meeting of Stockholders on June 8, 2017 to, among other things, extend the term of the 2007 Plan until March 27, 2027. The 2007 Plan permits us to purchase sufficient shares to fund withholding taxes in connection with the vesting of restricted stock units. All shares purchased during the three months ended December 31, 2024 were purchased to fund withholding taxes in connection with the vesting of restricted stock units.
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