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 Select Market under the symbol “FORM.” As of February 14, 2025, there were 105 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).
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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. Under the 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 28, 2024 with respect to the shares of common stock repurchased during the fourth quarter of fiscal 2024 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
September 29, 2024 - October 26, 2024 — $ — — $ 36,623,543
October 27, 2024 - November 23, 2024 419,952 38.50 419,952 20,455,378
November 24, 2024 - December 28, 2024 — — — 20,455,378
419,952 $ 38.50 419,952
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Stock Price Performance Graph
The following graph shows the total stockholder return of an investment of $100 in cash on December 28, 2019 through December 28, 2024 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 28, 2019 in stock or index, including reinvestment of dividends.
Cumulative Total Return
December 28, 2019 December 26, 2020 December 25, 2021 December 31, 2022 December 30, 2023 December 28, 2024
FormFactor, Inc. $ 100.00 $ 163.52 $ 170.93 $ 85.37 $ 160.18 $ 176.34
S&P 500 Index 100.00 118.40 152.39 124.79 157.59 197.02
S&P Semiconductors Select Industry Index 100.00 162.36 232.31 160.97 217.85 242.18
Item 6: [Reserved]