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
Share Investment Performance
The following graph shows changes over the past five-year period in the value of $100 invested in: (1) Flexsteel’s common stock (FLXS); (2) The NASDAQ Global Market; (3) an industry peer group of the following: American Woodmark Corp, Bassett Furniture Ind., Culp Inc., Dixie Group Inc., Ethan Allen Interiors Inc., HNI Corp., Hooker Furniture Corp., Johnson Outdoors Inc., Kimball International, La-Z-Boy Inc., Lifetime Brands Inc., Lovesac Co., Patrick Industries Inc., Sleep Number Corp., and Trex Company, Inc.
2017
2018
2019
2020
2021
2022
Flexsteel
100.00
75.30
33.45
26.02
83.20
37.08
NASDAQ
100.00
130.41
138.26
158.92
248.38
120.22
Peer Group
100.00
109.11
109.47
144.94
252.95
146.16
The Company’s common stock is traded on the NASDAQ Global Select Market under the trading symbol FLXS.
The Company estimates there were approximately 250 holders of common stock of the Company as of June 30, 2022. The payment of future cash dividends is within the discretion of the Company’s Board of Directors and will depend, among other factors, on its earnings, capital requirements and operating and financial condition.
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Table of Contents
Purchases of Equity Securities
On January 20, 2022, the Board of Directors approved a repurchase program authorizing the Company to purchase up to an additional $30 million of the Company’s common stock through January 19, 2025. All purchases were made in the open market.
The following table summarizes the activity of the common stock repurchases made during the three months ended June 30, 2022.
Total Number
Average
Total Number
Approximate Dollar Value
of Shares
Price Paid
of Shares Purchased
of Shares that May Yet
Period
Purchased
per Share
as Part of Plan
Be Purchased
April 1, 2022, to April 30, 2022
118,217
$
20.05
2,620,781
$
12,947,944
May 1, 2022, to May 31, 2022
138,103
20.44
2,758,884
10,118,616
June 1, 2022, to June 30, 2022
131,569
19.92
2,890,453
7,490,620
As of June 30, 2022
2,892,404
$
22.96
2,890,453
$
7,490,620
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.