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
Marketplace Designation, Sales Price Information and Holders
Shares of our Common Stock trade on Nasdaq, under the ticker symbol “CMCT.”
On March 2, 2026, there were approximately 128 holders of record of our Common Stock, excluding stockholders whose shares were held by brokerage firms, depositories and other institutional firms in “street name” for their customers. The closing price of our Common Stock on March 2, 2026 was $2.33 as reported on Nasdaq.
Approximately 96.8% of our Common Stock as of March 2, 2026 was held by stockholders that are not our affiliates.
Holders of our Common Stock are entitled to receive dividends, if, as and when authorized by the Board of Directors and declared by us out of legally available funds. In determining our dividend policy, the Board of Directors considers many factors including the amount of cash resources available for dividend distributions, capital spending plans, cash flow, our financial position, applicable requirements of the MGCL, any applicable contractual restrictions, and future growth in NAV and cash flow per share prospects. Consequently, the dividend rate on a quarterly basis does not necessarily correlate directly to any individual factor. There can be no assurance as to the future level of dividends declared by our Board of Directors on our Common Stock, if any. Risks inherent in our ability to pay dividends are further described in “Item 1A—Risk Factors” of this Annual Report on Form 10-K.
Securities Authorized for Issuance Under Equity Compensation Plans
The following table provides information as of December 31, 2025 with respect to shares of our Common Stock, either under options or in respect of restricted stock awards that may be issued under existing equity compensation plans, all of which have been approved by our stockholders.
Plan Category Number of shares of Common Stock to be issued upon exercise of outstanding options Weighted average exercise price of outstanding options Number of shares of Common Stock remaining available for future issuances under equity compensation plans (all in restricted shares of Common Stock)
Equity incentive plan — N/A 227,414
Recent Sales of Unregistered Securities and Use of Proceeds
During the years ended December 31, 2025 and 2024, we redeemed, at our option, 0 and 2,589,606 shares of Series A1 Preferred Stock, respectively, all of which were paid in shares of Common Stock, including all accrued and unpaid dividends as of the applicable redemption date and, in addition, we redeemed 536,737 and 181,912 shares of Series A1 Preferred Stock at the option of the holders during the years ended December 31, 2025 and 2024, respectively, that were paid in shares of Common Stock, including all accrued and unpaid dividends as of the applicable redemption date (collectively, the “Series A1 In-Kind Redemptions”). The Series A1 In-Kind Redemptions resulted in the aggregate issuance of 1,010,063 and 192,698 shares of Common Stock during the years ended December 31, 2025 and 2024, respectively. During the years ended December 31, 2025 and 2024, we redeemed, at our option, 0 and 2,150,076 shares of Series A Preferred Stock, all of which were paid in shares of Common Stock, including all accrued and unpaid dividends as of the applicable redemption date and, in addition, we redeemed 456,345 and 214,713 shares at the option of the holders during the years ended December 31, 2025 and 2024, respectively, that were paid in shares of Common Stock, including all accrued and unpaid dividends as of the applicable redemption date (collectively, the “Series A In-Kind Redemptions”). The Series A In-Kind Redemptions resulted in the aggregate issuance of 1,177,243 and 175,167 shares of Common Stock, respectively. During the year ended December 31, 2025, we redeemed 4,122 shares of Series D Preferred Stock that were paid in shares of Common Stock, including all accrued and unpaid dividends as of the applicable redemption date (collectively, the “Series D In-Kind Redemptions”). All such redemptions were redeemed at the option of the holders. The Series D In-Kind Redemptions resulted in the aggregate issuance of 11,556 shares of Common Stock.
For each of these issuances, the number of shares of Common Stock issued was based on volume-weighted average price (calculated in accordance with our charter) of the Common Stock as of each applicable redemption date. Shares of Series A1 Preferred Stock, Series A Preferred Stock and Series D Preferred Stock may be redeemed at our option or at the option of
50
the holder for a redemption price payable in cash or shares of Common Stock, at our election, as described in Note 11 to the consolidated financial statements included in this Annual Report on Form 10-K.
Item 6. Reserved