Item 5. Market for Registrant’s Common Equity
Item 5. Market for the Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
MARKET INFORMATION
Our common stock is listed and traded on the New York Stock Exchange (NYSE) under the symbol CW. As of January 1, 2022, we had approximately 2,800 registered shareholders of our common stock, $1.00 par value.
DIVIDENDS
During 2021 and 2020, the Company paid quarterly dividends as follows:
2021 2020
Common Stock
First Quarter $ 0.17 $ 0.17
Second Quarter 0.18 0.17
Third Quarter 0.18 0.17
Fourth Quarter 0.18 0.17
SECURITIES AUTHORIZED FOR ISSUANCE UNDER EQUITY COMPENSATION PLANS
The following table sets forth information regarding our equity compensation plans as of December 31, 2021, the end of our most recently completed fiscal year:
Plan category Number of securities to
be issued under equity compensation plans Weighted-average
fair value of outstanding equity-based awards Number of securities remaining
available for future issuance under
equity compensation plans
(excluding securities reflected in
the first column)
Equity compensation plans approved by security holders 421,066 (a) $111.54 1,942,123 (b)
Equity compensation plans not approved by security holders None Not applicable Not applicable
(a) Consists of 380,479 shares issuable upon vesting of performance share units, restricted shares, restricted stock units, and shares to non-employee directors under the 2005 and 2014 Omnibus Incentive Plan, and 40,587 shares issuable under the Employee Stock Purchase Plan.
(b) Consists of 1,270,665 shares available for share-based awards under the 2014 Omnibus Incentive Plan, and 671,458 shares remaining available for issuance under the Employee Stock Purchase Plan.
Issuer Purchases of Equity Securities
21
The following table provides information about our repurchases of equity securities that are registered by us pursuant to Section 12 of the Securities Exchange Act of 1934, as amended, during the quarter ended December 31, 2021.
Total Number of
shares purchased Average Price
Paid per Share Total Number of
Shares Purchased
as Part of a
Publicly
Announced
Program Maximum
Dollar amount of shares that may
yet be
Purchased
Under the
Program
October 1 – October 31 1,233,989 $131.17 1,882,840 $359,177,280
November 1 – November 30 185,346 132.54 2,068,186 334,611,359
December 1 – December 31 584,582 132.75 2,652,768 257,008,939
For the quarter ended December 31 2,003,917 $131.76 2,652,768 $257,008,939
In December 2021, the Corporation adopted two written trading plans in connection with its previously authorized share repurchase program, which allows for the purchase of its outstanding common stock up to $550 million, of which approximately $250 million remains available for repurchase. The first trading plan includes share repurchases of $50 million, to be executed equally throughout the 2022 calendar year. The second trading plan includes opportunistic share repurchases up to $100 million to be executed through a 10b5-1 program.
The following performance graph does not constitute soliciting material and should not be deemed filed or incorporated by reference into any of our other filings under the Securities Act or the Securities Exchange Act of 1934, except to the extent we specifically incorporate this information by reference therein.
PERFORMANCE GRAPH
The following graph compares the annual change in the cumulative total return on our common stock during the last five fiscal years with the annual change in the cumulative total return of the Russell 2000 Index and the S&P MidCap 400 Index. The graph assumes an investment of $100 on December 31, 2016 and the reinvestment of all dividends paid during the following five fiscal years.
22
Company / Index 2016 2017 2018 2019 2020 2021
Curtiss-Wright Corp 100 124.56 104.90 145.50 121.01 145.05
S&P MidCap 400 Index 100 116.24 103.36 130.44 148.26 184.97
Russell 2000 100 114.65 102.02 128.06 153.62 176.39
Item 6. Selected Financial Data.
[Reserved]