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.
Our common shares are traded on the New York Stock Exchange under the symbol "CHH". As of February 14, 2023, there were 926 holders of record of the Company’s common stock.
ISSUER PURCHASES OF EQUITY SECURITIES
The following table sets forth purchases and redemptions of the Company's common stock made by the Company during the year ended December 31, 2022:
Month Ending Total Number of
Shares Purchased
or Redeemed Average Price
Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (1),(2)
Maximum Number of
Shares that may yet be
Purchased Under the Plans
or Programs, End of Period (3)
January 31, 2022 30,165 $ 145.76 30,165 3,311,297
February 28, 2022 36,592 144.34 36,592 3,274,705
March 31, 2022 34,155 150.00 1,729 3,272,976
April 30, 2022 449 141.57 — 3,272,976
May 31, 2022 1,973 139.38 — 3,272,976
June 30, 2022 — — — 3,272,976
July 31, 2022 — — — 3,272,976
August 31, 2022 1,073,541 118.63 1,073,469 2,199,507
September 30, 2022 (3)
931,459 111.69 930,917 6,268,590
October 31, 2022 553,832 117.62 553,776 5,714,814
November 30, 2022 420,914 121.36 420,312 5,294,502
December 31, 2022 619,338 116.27 619,338 4,675,164
Total 3,702,418 $ 117.43 3,666,298 4,675,164
(1) The Company’s share repurchase program was initially approved by the Board of Directors on June 25, 1998. The program has no fixed dollar amount or expiration date. Since the program's inception through December 31, 2022, the Company repurchased 55.4 million shares (including 33.0 million prior to the two-for-one stock split effected in October 2005) of common stock at a total cost of $1.9 billion. Considering the effect of the two-for-one stock split, the Company repurchased 88.4 million shares at an average price of $21.76 per share.
(2) During the year ended December 31, 2022, the Company redeemed 36,120 shares of common stock from employees to satisfy the option price and minimum tax-withholding requirements related to the exercising of options and vesting of performance vested restricted stock units and restricted stock grants. These redemptions were not part of the Board repurchase authorization.
(3) On September 14, 2022, the Board of Directors approved an increase in the number of shares authorized under its share repurchase program by five million shares.
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STOCKHOLDER RETURN PERFORMANCE
The graph below matches Choice Hotels International, Inc.'s cumulative 5-year total shareholder return on common stock with the cumulative total returns of the NYSE Composite index, the S&P Hotels, Resorts & Cruise Lines index, and the S&P 400 Consumer Discretionary index. We have included the S&P 400 Consumer Discretionary index in our cumulative total return comparisons below, which reflects a change from the presentation in prior fiscal years. Management believes that the companies included in the S&P 400 Consumer Discretionary Index appropriately reflect the scope of the Company’s operations and match the competitive market in which the Company operates. The graph tracks the performance of a $100 investment in our common stock and in each index (with the reinvestment of all dividends) from December 31, 2017 to December 31, 2022.
12/31/17 6/30/18 12/31/18 6/30/19 12/31/19 6/30/20 12/31/20 6/30/21 12/31/21 6/30/22 12/31/22
Choice Hotels International, Inc. $ 100.00 $ 97.96 $ 93.28 $ 113.69 $ 136.11 $ 104.23 $ 140.99 $ 157.31 $ 206.82 $ 148.80 $ 150.78
NYSE Composite $ 100.00 $ 98.89 $ 91.05 $ 105.89 $ 114.28 $ 99.00 $ 122.26 $ 140.84 $ 147.54 $ 126.07 $ 133.75
S&P Hotels, Resorts & Cruise Lines $ 100.00 $ 91.69 $ 81.94 $ 101.23 $ 112.30 $ 55.54 $ 83.24 $ 92.37 $ 99.76 $ 67.61 $ 75.57
S&P 400 Consumer Discretionary $ 100.00 $ 100.91 $ 82.07 $ 95.50 $ 103.88 $ 97.66 $ 136.08 $ 170.31 $ 173.75 $ 123.69 $ 137.21
The stock price performance included in this graph is not necessarily indicative of future stock price performance.
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Item 6. Selected Financial Data.
Reserved.
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.