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
Evercore Class A Common Stock
Our Class A common stock is listed on the NYSE and is traded under the symbol "EVR." At the close of business on February 16, 2022, there were 31 Class A common stockholders of record. This is not the actual number of beneficial owners of the Company's common stock, as shares are held in "street name" by brokers and others on behalf of individual owners.
There is no trading market for the Evercore Inc. Class B common stock. As of February 16, 2022, there were 53 holders of record of the Class B common stock.
Dividend Policy
The Company paid quarterly cash dividends of $0.68 per share of Class A common stock for the quarters ended December 31, 2021, September 30, 2021 and June 30, 2021, $0.61 per share for the quarters ended March 31, 2021 and December 31, 2020 and $0.58 per share for the quarters ended September 30, 2020, June 30, 2020 and March 31, 2020.
We pay dividend equivalents, in the form of unvested RSU awards or deferred cash dividends, concurrently with the payment of dividends to the holders of Class A common shares, on all unvested RSU grants. The dividend equivalents have the same vesting and delivery terms as the underlying RSU award.
The declaration and payment of any future dividends will be at the sole discretion of our board of directors. Our board of directors will take into account: general economic and business conditions; our financial condition and operating results; our available cash and current and anticipated cash needs; capital requirements; contractual, legal, tax and regulatory restrictions and implications on the payment of dividends by us to our stockholders or by our subsidiaries (including Evercore LP) to us; and such other factors as our board of directors may deem relevant.
We are a holding company and have no material assets other than our ownership of partnership units in Evercore LP. We intend to cause Evercore LP to make distributions to us in an amount sufficient to cover dividends, if any, declared by us and tax distributions. If Evercore LP makes such distributions, the limited partners of Evercore LP will be entitled to receive equivalent distributions from Evercore LP on their partnership units.
Recent Sales of Unregistered Securities
None
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Share Repurchases for the period January 1, 2021 through December 31, 2021
2021 Total Number of
Shares (or Units)
Purchased(1) Average Price
Paid Per Share Total Number of Shares (or Units) Purchased as Part of Publicly Announced Plans or Programs(2) Maximum Number (or Approximate Dollar Value) of Shares (or Units) that May Yet Be Purchased Under the Plans or Programs(2)
January 1 to January 31 16,143 $ 80.49 — 3,265,267
February 1 to February 28 1,306,786 117.48 472,899 2,792,368
March 1 to March 31 617,501 129.62 550,335 2,242,033
Total January 1 to March 31 1,940,430 $ 121.03 1,023,234 2,242,033
April 1 to April 30 322,978 $ 137.42 317,224 8,432,105
May 1 to May 31 397,602 144.44 387,290 8,044,815
June 1 to June 30 647,404 136.15 646,279 7,398,536
Total April 1 to June 30 1,367,984 $ 138.86 1,350,793 7,398,536
July 1 to July 31 302,487 $ 131.27 287,990 7,110,546
August 1 to August 31 379,086 132.52 374,434 6,736,112
September 1 to September 30 111,133 136.81 109,675 6,626,437
Total July 1 to September 30 792,706 $ 132.64 772,099 6,626,437
October 1 to October 31 123,439 $ 144.42 122,559 6,503,878
November 1 to November 30 406,259 149.81 386,387 6,117,491
December 1 to December 31 824,982 135.86 805,844 5,311,647
Total October 1 to December 31 1,354,680 $ 140.82 1,314,790 5,311,647
Total January 1 to December 31 5,455,800 $ 132.10 4,460,916 5,311,647
(1) Includes the repurchase of 917,196, 17,191, 20,607 and 39,890 shares in treasury transactions arising from net settlement of equity awards to satisfy minimum tax obligations during the three months ended March 31, 2021, June 30, 2021, September 30, 2021 and December 31, 2021, respectively.
(2) On October 23, 2017, our Board of Directors authorized (in addition to the net settlement of equity awards) the repurchase of Class A Shares and/or LP Units so that from that date forward, we were able to repurchase an aggregate of the lesser of $750.0 million worth of Class A Shares and/or LP Units and 8.5 million Class A Shares and/or LP Units. Further, on April 27, 2021, our Board of Directors authorized (in addition to the net settlement of equity awards) the repurchase of Class A Shares and/or LP Units so that from that date forward, we are able to repurchase an aggregate of the lesser of $750.0 million worth of Class A Shares and/or LP Units and 8.5 million Class A Shares and/or LP Units. In addition, on February 22, 2022, our Board of Directors authorized (in addition to the net settlement of equity awards) the repurchase of Class A Shares and/or LP Units so that from that date forward, we are able to repurchase an aggregate of the lesser of $1.4 billion worth of Class A Shares and/or LP Units and 10.0 million Class A Shares and/or LP Units. Under this share repurchase program, shares may be repurchased from time to time in open market transactions, in privately-negotiated transactions or otherwise. The timing and the actual amount of shares repurchased will depend on a variety of factors, including legal requirements, price and economic and market conditions. This program may be suspended or discontinued at any time and does not have a specified expiration date.
Information relating to compensation plans under which the Company's equity securities are authorized for issuance is set forth in Part III, Item 12 of this report.
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Item 6. [Reserved]
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