Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant's Common Equity, Related Sha reholder Matters and Issuer Purchases of Equity Securities
Our common stock is listed on the New York Stock Exchange under the symbol "CTS." On February 16, 2024, there were approximately 771 shareholders of record.
On February 9, 2023, the Board approved a share repurchase program that authorized the Company to repurchase up to $50 million of its common stock. The repurchase program had no set expiration date and superseded and replaced the repurchase program approved by the Board in May 2021.
CTS CORPORATION 21
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(a)
Total Number
of Shares
Purchased
(b)
Average Price
Paid per
Share
(c)
Total Number
of Shares
Purchased as
Part of
Publicly
Announced
Programs
(d)
Maximum
Dollar Value of
Shares That
May Yet Be
Purchased
Under Publicly Announced Plans or Programs
October 1, 2023 – October 31, 2023
97,982
$
40.38
97,982
$
24,445,949
November 1, 2023 – November 30, 2023
171,665
$
39.53
171,665
$
17,660,741
December 1, 2023 – December 31, 2023
115,817
$
41.03
115,817
$
12,908,355
Total
385,464
385,464
On February 2, 2024, the Board approved a new share repurchase program that authorizes the Company to repurchase up to $100 million of its common stock. The new share repurchase program has no set expiration date and supersedes and replaces the repurchase program approved by the Board in February 2023.
Shareholder Performance Graph
The following graph shows a five-year comparison of the cumulative total shareholder return on CTS common stock with the cumulative total returns of a general market index and a peer group index (Russell 2000 Index and Dow Jones Electrical Components & Equipment Industry Group). The graph tracks the performance of a $100 investment in the Company's common stock and in each of the indexes (with the reinvestment of all dividends) on December 31, 2018. Historical stock price performance should not be relied upon as an indication of future stock price performance. The performance graph in this Annual Form 10-K shall be deemed furnished, and not filed, and shall not be deemed incorporated by reference into any filing under the Securities Act of 1933 or the Exchange Act as a result of this furnishing, except to the extent that we specifically incorporate it by reference.
Item 6. Res erved
CTS CORPORATION 22
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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.