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
MARKET AND STOCKHOLDERS
Our Common Stock is traded on the Exchange, under the symbol “ELA.” As of March 11, 2022, we had 283 record holders of our Common Stock.
SHARE REPURCHASES AND DIVIDENDS
We have not declared any dividends with respect to our Common Stock. Our intent is to retain all earnings to finance future growth; accordingly, it is not anticipated that cash or other dividends will be paid to holders of Common Stock in the foreseeable future.
Securities authorized for issuance under equity compensation plans.
On December 7, 2016, our shareholders approved the adoption of the 2016 Equity Incentive Plan (the “2016 Plan”), which reserved 1,100,000 shares of our Common Stock for issuance pursuant to awards issued thereunder. As of December 31, 2021, no awards had been made under the 2016 Plan. The Company’s prior 2006 Equity Incentive Plan (the “2006 Plan”) expired according to its terms on December 31, 2019, and as a result no further shares may be issued under the 2006 Plan. No securities issued pursuant to the 2006 Plan remain issuable upon the exercise of any option, warrants or rights. However, 15,000 options issued pursuant to the Company’s 2004 Employee Stock Option Plan (the “2004 Employee Stock Option Plan”) remain unexercised and have no expiration date. For more information, see Note 14 to our consolidated financial statements.
The following table summarizes our equity compensation plan information as of December 31, 2021:
Plan Category
Column (a):
Number of securities to be issued upon exercise of outstanding options, warrants and rights
Column (b):
Weighted-average exercise price of outstanding options, warrants and rights
Column (c):
Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a))
Equity compensation plans approved by security holders
15,000 (1)
2.17
1,100,000 (2)
Equity compensation plans not approved by security holders
N/A
N/A
N/A
Total
15,000
2.17
1,100,000
(1)
Represents 15,000 options issued under the 2004 Employee Stock Option Plan, which remain unexercised and have no expiration date.
(2)
The total number of securities remaining available for future issuance is solely comprised of shares of Common Stock reserved under the 2016 Plan.
Purchases of equity securities by the issuer and affiliates purchases.
There have been no purchases made by or on behalf of the issuer or any “affiliated purchaser,” as defined in Rule 10b-18(a)(3) of the Exchange Act of any of our equity securities during the years ended December 31, 2021 and December 31, 2020.
ITEM 6. [RESERVED]
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Table of Contents
PART II
Item 7
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.