11 unchanged sentences
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.
−Removed: 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: On February 23, 2022, our Board authorized an increase in our share repurchase program to permit us to purchase up to an additional $75.0 million under our share repurchase program, in addition to amounts previously authorized and outstanding in accordance with Rule 10b-18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which totaled up to $265.0 million in share repurchase authorizations.
Share repurchase activity is as follows (dollar value of shares repurchased in thousands):
10 unchanged sentences
Shares purchased pursuant to the repurchase program are currently held as treasury stock.
−Removed: At December 31, 2021, we had $8.1 million remaining available for repurchase under our authorized program.
+Added: At December 31, 2022, our share repurchase program had $48.9 million authorized for additional repurchases.
The following table sets forth certain information with respect to repurchases of our common stock during the quarter ended December 31, 2022:
5 unchanged sentences
(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 of SCI and StoneMor (the “Peer Group”).
−Removed: 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.
−Removed: The graph assumes that the value of the investment in our common stock, the Russell 3000 Index and the Peer Group was $100 on the last trading day of December 2016, and that all dividends were reinvested.
−Removed: 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.
+Added: STOCKHOLDER RETURN PERFORMANCE GRAPH
+Added: The following line graph below compares the yearly change in cumulative total shareholder return over a 5-year period on our common stock relative to the cumulative total returns of the Russell 3000 Index (the “Russell 3000”), the Peer Group shown in our Annual Report on Form 10-K for the year ended December 31, 2021, which consisted of SCI and StoneMor (the “2021 Peer Group”), and our new peer group consisting of SCI, Matthews International Corp.
+Added: (“Matthews”) and Park Lawn (the “2022 Peer Group”).
+Added: We use a peer group index, as we believe there is no relevant published industry or line-of-business index that reflects the companies against which we compete in our industry.
+Added: We removed Stonemor from our 2022 Peer Group and selected Matthews and Park Lawn to be added to our 2022 Peer Group as a result of StoneMor being delisted from the NYSE as of November 30, 2022.
+Added: The returns of each member of the 2021 Peer Group and 2022 Peer Group are weighted according to their respective stock market capitalization as of the beginning of each period measured.
+Added: The graph assumes that the value of the investment in our common stock, the Russell 3000 Index, the 2021 Peer Group and the 2022 Peer Group was $100 on the last trading day of December 2017, and that all dividends were reinvested.
+Added: Performance data for Carriage, the Russell 3000 Index, the 2021 Peer Group and the 2022 Peer Group is provided as of the last trading day of each of our last five fiscal years.
+Added: For the 2021 Peer Group, as a result of StoneMor’s delisting on November 30, 2022, the stock performance data as of December 31, 2022 reflects SCI’s total cumulative return only.
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.
−Removed: COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN (1)
−Removed: Among Carriage, the Russell 3000 Index and the Peer Group
−Removed: 12/16 12/17 12/18 12/19 12/20 12/21
−Removed: Carriage Services, Inc.
−Removed: $ 100.00 $ 90.56 $ 55.34 $ 92.69 $ 115.15 $ 239.40
−Removed: Russell 3000 100.00 121.12 114.77 150.35 181.74 228.33
−Removed: Peer Group 100.00 129.84 143.30 166.92 177.14 262.53
−Removed: (1) Fiscal year ending December 31.
−Removed: $100 invested on December 31, 2016 in stock or index, including reinvestment of dividends.
−Removed: 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.
+Added: COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN
+Added: Among Carriage, the Russell 3000 Index, the 2021 Peer Group and the 2022 Peer Group
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.