BayCom Corp 10-K

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities General. Our common stock, since May 4, 2018, is listed on the NASDAQ Global Select Market under the symbol “BCML”. At March 23, 2022, we had approximately 853 shareholders of record (not including the number of persons or entities holding stock in nominee or street name through various brokerage firms) and 13,695,751 outstanding shares of common stock. Our cash dividend payout policy is reviewed regularly by management and the Board of Directors. On February 16, 2022 the Company announced that its Board of Directors declared it first quarterly cash dividend of $.05 per share on the Company's outstanding common stock, payable on April 15, 2022 to shareholders of record as of the close of business on March 11, 2022. Any dividends declared and paid in the future would depend upon a number of factors, including capital requirements, our financial condition and results of operations, tax considerations, statutory and regulatory limitations, and general economic conditions. No assurances can be given that any dividends will be paid or that, if paid, will not be reduced or eliminated in future periods. Our future payment of dividends may depend, in part, upon receipt of dividends from the Bank, which are restricted by federal regulations. Stock Repurchases. The Company’s Board of Directors approved its fifth stock repurchase program in December 2021 pursuant to which the Company may repurchase up to seven percent of the Company’s common stock, or approximately 747,000 shares (in addition to the 657 shares that remained available for repurchase under the Company’s prior stock repurchase program at that date) . The repurchase program may be suspended, terminated or modified at any time for any reason, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity, and other factors deemed appropriate. The repurchase program does not obligate the Company to purchase any particular number of shares. The following table sets forth information with respect to our repurchases of our outstanding common shares during the three months ended December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total number of shares ​ Maximum number of ​ ​ ​ ​ ​ ​ ​ purchased as part of ​ shares that may yet be ​ ​ Total number of ​ Average price ​ publicly announced ​ purchased under the ​ shares purchased paid per share plans or programs plans or programs ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 1, 2021 - October 31, 2021 1,000 $ 18.23 ​ 1,000 (343) November 1, 2021 - November 30, 2021 — ​ ​ — ​ — (343) December 1, 2021 - December 31, 2021 4,125 ​ ​ 18.33 ​ 4,125 742,532 ​ 5,125 $ 18.31 5,125 ​ ​ During the year ended December 31, 2021, the Company purchased a total of 648,734 shares of the Company’s common stock at an average price of $17.81 per share, compared to 1,276,869 shares at an average price of $14.30 per share during the year ended December 31, 2020. At December 31, 2021, 742,532 shares remain available for future purchases under the current stock repurchase plan. On February 22, 2021, the Company’s board of directors approved its fourth stock repurchase program for the repurchase of up to 560,000 shares of its common stock, or approximately 5% of its outstanding shares, over a one-year period through open market purchases, privately-negotiated transactions, or otherwise in compliance with Rule 10b-18 under the Securities Exchange Act of 1934 . No shares remained available for repurchase under this program at December 31, 2021. Equity Compensation Plan Information. The equity compensation plan information presented under subparagraph (d) in Part III, Item 11 of this report is incorporated herein by reference. ​ 46 Table of Contents Item 6. Reserved ​ ​