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
Stock Information
Our common stock is listed on The Nasdaq Global Market under the symbol “FORM.” As of February 16, 2024, there were 115 registered holders of record of our common stock, which does not include beneficial owners of stock held in street name (i.e., through a brokerage firm, bank, broker-dealer, trust or other similar organization).
Dividends
No cash dividends have been declared on shares of our common stock, and the Company currently does not intend to pay dividends in the future.
Repurchases of Common Stock
In October 2023, our Board of Directors authorized a program to repurchase up to $75.0 million of outstanding common stock to offset potential dilution from issuances of our common stock under our employee stock purchase plan and equity incentive plan. This authorization was in addition to the program authorized in May 2022 to repurchase up to $75.0 million of outstanding common stock that was fully utilized as of December 30, 2023. Under the current stock repurchase program, we may repurchase shares from time to time on the open market. The pace of repurchase activity will depend on levels of cash generation, the Company's current stock price, and other factors. The program may be modified or discontinued at any time. The current share repurchase program will expire October 2025.
The following table provides information as of December 30, 2023 with respect to the shares of common stock repurchased during the fourth quarter of fiscal 2023 pursuant to the foregoing Board authorization.
Period (fiscal months) Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Maximum Amount that May Yet Be Purchased Under the Plans or Programs
October 1, 2023 - October 28, 2023 — $ — — $ 93,634,446
October 29, 2023 - November 25, 2023 184,464 36.77 184,464 86,851,705
November 26, 2023 - December 30, 2023 351,908 36.99 351,908 73,834,628
536,372 $ 36.92 536,372
25
Stock Price Performance Graph
The following graph shows the total stockholder return of an investment of $100 in cash on December 29, 2018 through December 30, 2023 for (1) our common stock, (2) the S&P 500 Index, and (3) the S&P Semiconductors Select Industry Index. All values assume reinvestment of the full amount of all dividends. Stockholder returns over the indicated period are based on historical data and are not necessarily indicative of future stockholder returns.
COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN*
Among FormFactor, Inc., the S&P 500 Index, and the S&P Semiconductors Select Industry Index *$100 invested on December 29, 2018 in stock or index, including reinvestment of dividends.
Cumulative Total Return
December 29, 2018 December 28, 2019 December 26, 2020 December 25, 2021 December 31, 2022 December 30, 2023
FormFactor, Inc. $ 100.00 $ 185.87 $ 303.93 $ 317.70 $ 158.67 $ 297.72
S&P 500 Index 100.00 131.49 155.68 200.37 164.08 207.21
S&P Semiconductors Select Industry Index 100.00 165.23 268.27 383.86 265.98 359.96
Item 6: [Reserved]