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
The Company’s Common Stock is listed on the Nasdaq Capital Market under the symbol “FNWD.” As of December 31, 2025, the Company had 4,326,747 shares of common stock outstanding and 486 stockholders of record. This does not reflect the number of persons or entities who may hold their stock in nominee or “street” name through brokerage firms.
On April 24, 2014 the Company’s Board of Directors authorized a stock repurchase program to repurchase up to 50,000 shares of the Company’s outstanding common stock, from time to time and subject to market conditions, on the open market or in privately negotiated transactions. The stock repurchase program does not expire and is only limited by the number of shares that can be purchased. The stock repurchase program will be reviewed annually by the Board of Directors. No shares were repurchased during the quarter ended December 31, 2025 under the stock repurchase program.
Period Total Number
of Shares Purchased (2) Average Price
Paid per Share Total Number of Shares
Purchased as Part of
Publicly Announced
Plans or Programs Maximum Number of
Shares That May Yet
Be Purchased Under
the Program(1)
January 1, 2025 –January 31, 2025 - N/A - 48,828
February 1, 2025 – February 28, 2025 3,930 $26.38 - 48,828
March 1, 2025 – March 31, 2025 - N/A - 48,828
April 1, 2025 – April 30, 2025 485 $30.75 - 48,828
May 1, 2025 – May 31, 2025 690 $30.26 - 48,828
June 1, 2025 – June 30, 2025 - N/A - 48,828
July 1, 2025 – July 31, 2025 - N/A - 48,828
August 1, 2025 – August 31, 2025 223 $27.52 - 48,828
September 1, 2025 – September 30, 2025 - N/A - 48,828
October 1, 2025 – October 31, 2025 - N/A - 48,828
November 1, 2025 – November 30, 2025 111 $33.38 - 48,828
December 1, 2025 – December 31, 2025 - N/A - 48,828
(1) The stock repurchase program was announced on April 24, 2014, whereby the Company is authorized to repurchase up to 50,000 shares of the Company’s common stock outstanding. There is no express expiration date for this program.
(2) The number of shares above includes shares of common stock reacquired from the Company’s executive officers and employees to satisfy the tax withholding obligations on restricted stock awards granted under the Company’s 2015 Stock Option and Incentive Plan. For the year ended December 31, 2025, 5,439 shares were reacquired at an average per share price of $27.45 pursuant to these tax withholding transactions.
Item 6. [Reserved]
44
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.