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
The Chefs’ Warehouse, Inc. Common Stock
Our common stock is publicly traded under the symbol “CHEF” on the NASDAQ Global Select Market. As of December 27, 2024, there were 94 holders of record of our common stock. This does not include the number of persons whose stock is in nominee or “street” name accounts through brokers.
We have never paid, and have no immediate plans to pay, cash dividends on our common stock. Further, our ability to pay dividends is limited by the terms and conditions of our senior secured credit agreements, which require compliance with certain baskets and ratio tests and certain excess availability tests.
Stock Performance Graph
The following graph compares the cumulative total stockholder return on our common stock during the period from December 27, 2019 through December 27, 2024 with the cumulative total return on the NASDAQ Composite and the S&P Smallcap Food Distributor Index. The comparison assumes that $100 was invested on December 27, 2019 in our common stock and in each of the foregoing indices and assumes reinvestment of dividends, if any. The comparisons in the graph below are based on historical data and are not indicative of, or intended to forecast, future performance of our common stock.
The following performance graph and related information shall not be deemed “soliciting material” or to be “filed” with the Securities and Exchange Commission, nor shall such information be incorporated by reference into any future filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, each as amended, except to the extent that we specifically incorporate such information by reference into such filing.
COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN
AMONG THE CHEFS’ WAREHOUSE, INC.,
NASDAQ COMPOSITE INDEX AND THE S&P SMALLCAP FOOD DISTRIBUTOR INDEX
33
December 27, 2019 December 25, 2020 December 24, 2021 December 30, 2022 December 29, 2023 December 27, 2024
The Chefs’ Warehouse, Inc. $ 100.00 $ 62.92 $ 85.78 $ 87.65 $ 77.51 $ 128.21
NASDAQ Composite Index $ 100.00 $ 142.17 $ 173.80 $ 116.21 $ 166.67 $ 218.97
S&P Smallcap Food Distributor Index $ 100.00 $ 106.70 $ 206.77 $ 189.89 $ 155.51 $ 175.45
ISSUER PURCHASES OF EQUITY SECURITIES
Total Number
of Shares
Repurchased (1)
Average
Price
Paid Per Share Total
Number of Shares
Purchased as Part
of Publicly
Announced Plans
or Programs (2)
Maximum
Number (or
Approximate
Dollar Value) of
Shares That May
Yet Be Purchased
Under the Plans
or Programs (2)
September 28, 2024 to October 25, 2024 — $ — — $ 90,000
October 26, 2024 to November 22, 2024 2,297 39.95 — 90,000
November 23, 2024 to December 27, 2024 162,514 45.55 162,159 82,617
Total 164,811 $ 45.47 162,159 $ 82,617
(1) During the thirteen weeks ended December 27, 2024, we withheld 164,811 shares of our common stock to satisfy tax withholding requirements upon the vesting of restricted shares of our common stock awarded to certain of our officers and key employees resulting from either elections under 83(b) of the Internal Revenue Code of 1986, as amended, or upon vesting of such awards, in addition to shares purchased as part of a publicly announced program.
(2) In November 2023, we announced a two-year share repurchase program in an amount up to $100.0 million targeting $25.0 million to $100.0 million of share repurchases by the end of fiscal 2025.
Equity Compensation Plan Information
See Part III, Item 12 for information regarding securities authorized for issuance under our equity compensation plans.
Item 6. RESERVED
34