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
Federated Hermes' Class B common stock is traded on the NYSE under the symbol FHI. Prior to February 3, 2020, Federated Hermes Class B common stock was trading under the ticker symbol FII.
The approximate number of beneficial shareholders of Class A and Class B common stock as of February 11, 2022, was 1 and 22,021, respectively. See Item 1A - Risk Factors - Specific Risk Factors - Risk Related to Federated Hermes' Corporate Structure - Status as a Controlled Company for additional information on its Class A common stock.
The following table summarizes stock repurchases under Federated Hermes' share repurchase program during the fourth quarter of 2021.
Total Number
of Shares
Purchased Average
Price Paid
Per Share Total Number of Shares
Purchased as Part of
Publicly Announced
Plans or Programs 1
Maximum Number of
Shares that May Yet
Be Purchased Under
the Plans or Programs 1
October 2
130,700 $ 31.39 125,000 2,486,755
November 2
1,246,784 34.84 1,245,720 1,241,035
December 2
2,676,635 36.48 2,676,035 6,065,000
Total 4,054,119 $ 35.81 4,046,755 6,065,000
1 In April and December 2021, the board of directors authorized share repurchase programs with no stated expiration dates that allow the repurchase of up to 4.0 million and 7.5 million shares, respectively, of Class B common stock. The April 2021 program was fulfilled in December 2021. No other program existed as of December 31, 2021. See Note (14) to the Consolidated Financial Statements for additional information.
2 In October, November and December 2021, 5,700, 1,064 and 600 shares, respectively, of Class B common stock with a weighted-average price of $3.00, $0.00 and $3.00 per share, respectively, were repurchased as employees forfeited restricted stock.
See Item 12 - Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters for information on Federated Hermes' securities authorized for issuance under equity compensation plans.
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Stock Performance Graph
The following performance graph compares the total shareholder return of an investment in Federated Hermes' Class B common stock to that of the Standard and Poor's MidCap 400 ® Index (S&P MidCap 400 Index) and to the S&P 1500 Asset Management & Custody Banks Index for the five-year period ended on December 31, 2021.
The graph assumes that the value of the investment in Class B common stock and each index was $100 on December 31, 2016. Total return includes reinvestment of all dividends. As a member of the S&P MidCap 400 Index as of December 31, 2021, Federated Hermes is required to include this comparison. The historical information set forth below is not necessarily indicative of future performance. Federated Hermes does not make or endorse any predictions as to future stock performance.
12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021
Federated Hermes $ 132.26 $ 101.39 $ 128.83 $ 123.95 $ 166.94
S&P MidCap 400 Index
$ 116.24 $ 103.36 $ 130.44 $ 148.26 $ 184.97
S&P 1500 Asset Management & Custody Banks Index $ 129.40 $ 96.88 $ 122.30 $ 142.12 $ 191.61
ITEM 6 – [RESERVED]
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