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MARKET INFORMATION
−Removed: Our common stock is traded on the New York Stock Exchange under the symbol “CSV.” As of February 26, 2021, there were 17,994,717 shares of our common stock outstanding.
+Added: Our common stock is traded on the New York Stock Exchange under the symbol “CSV.” At February 25, 2022, there were 15,326,738 shares of our common stock outstanding.
The shares of common stock outstanding are held by approximately 330 stockholders of record.
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RECENT SALES OF UNREGISTERED SECURITIES
−Removed: During the year ended December 31, 2020, we did not have any sales of securities in transactions that were not registered under the Securities Act that have not been reported in a Form 8-K or Form 10-Q.
+Added: During the year ended December 31, 2021, we did not have any sales of securities in transactions that were not registered under the Securities Act of 1933 (as amended, the “Securities Act”) that have not been reported in a Form 8-K or Form 10-Q.
While we intend to pay regular quarterly cash dividends for the foreseeable future, covenant restrictions under our Credit Facility and the Indenture governing our Senior Notes may limit our ability to pay dividends in the future.
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PURCHASES OF EQUITY SECURITIES BY THE ISSUER
−Removed: During the year ended December 31, 2018, we repurchased 1,101,969 shares of common stock for a total cost of $17.7 million at an average cost of $16.03 per share pursuant to our share repurchase program.
−Removed: On July 31, 2019, our Board approved an additional $25.0 million under our share repurchase program in accordance with Rule 10b-18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).
−Removed: During the year ended December 31, 2019, we repurchased 400,000 shares of common stock for a total cost of $7.8 million at an average cost of $19.39 per share pursuant to our share repurchase program.
+Added: Subject to market conditions, normal trading restrictions and satisfying certain financial covenants in our Credit Facility, and in the Indenture governing our Senior Notes, we may make purchases in the open market or through privately negotiated transactions under our Board authorized share repurchase program, in accordance with Rule 10b-18 of the Securities Exchange Act.
+Added: On May 18, 2021, July 26, 2021 and October 27, 2021, our Board increased our share repurchase authorization by an additional $25.0 million, $25.0 million and $75.0 million, respectively, that including amounts previously authorized and outstanding, totaled up to $190.0 million in share repurchase authorizations.
+Added: Share repurchase activity is as follows (dollar value of shares repurchased in thousands):
+Added: Years Ended December 31,
+Added: 2019 2020 2021
+Added: Number of Shares Repurchased (1)
+Added: 400,000 — 2,906,983
+Added: Average Price Paid Per Share $ 19.39 $ — $ 49.01
+Added: Dollar Value of Shares Repurchased (1)
+Added: $ 7,756 $ — $ 142,469
+Added: (1) These amounts may differ from the repurchases of common stock amounts in the consolidated statements of cash flows due to unsettled share repurchases at the end of a period.
+Added: In December 2021, we repurchased 37,408 shares for $2.4 million, the settlement of which occurred in January 2022.
Our shares were purchased in the open market at times and in amounts as management determined appropriate based on factors such as market conditions, legal requirements and other business considerations.
−Removed: Shares purchased pursuant to the repurchase program are currently held as treasury shares.
−Removed: During the year ended December 31, 2020, we did not repurchase any common shares.
−Removed: At December 31, 2020, we had approximately $25.6 million available for repurchase under our share repurchase program.
+Added: Shares purchased pursuant to the repurchase program are currently held as treasury stock.
+Added: At December 31, 2021, we had $8.1 million remaining available for repurchase under our authorized program.
The following table sets forth certain information with respect to repurchases of our common stock during the quarter ended December 31, 2021:
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(1) See the first paragraph under the caption “ Purchases of Equity Securities by the Issuer ” for more information on our publicly announced share repurchase program.
−Removed: The following graph compares the cumulative 5-year total shareholder return on our common stock relative to the cumulative total returns of the Russell 3000 Index, and a peer group selected by the Company comprising SCI and StoneMor (the “Peer Group”).
+Added: The following graph compares the cumulative 5-year total shareholder return on our common stock relative to the cumulative total returns of the Russell 3000 Index, and a peer group selected by the Company comprising of SCI and StoneMor (the “Peer Group”).
The returns of each member of the Peer Group are weighted according to their respective stock market capitalization as of the beginning of each period measured.
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Performance data for Carriage, the Russell 3000 Index and the Peer Group is provided as of the last trading day of each of our last five fiscal years.
−Removed: The following graph and related information shall not be deemed “soliciting material” or “filed” with the SEC, nor shall such information be incorporated by reference into any future filing under the Securities Act of 1933, as amended, or the Securities Exchange Act except to the extent that we specifically incorporate it by reference.
+Added: The following graph and related information shall not be deemed “soliciting material” or “filed” with the SEC, nor shall such information be incorporated by reference into any future filing under the Securities or the Exchange Act except to the extent that we specifically incorporate it by reference.
COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN (1)
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$100 invested on December 31, 2016 in stock or index, including reinvestment of dividends.
−Removed: Peer Group above includes SCI and StoneMor.
+Added: The Peer Group above includes SCI and StoneMor.
The stock price performance included in this graph is not necessarily indicative of future stock price performance.
−Removed: SELECTED FINANCIAL DATA.
−Removed: Omitted pursuant to amendments to Item 301 of Regulations S-K effective February 10, 2021.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.