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
Market for FirstSun Common Stock
As of December 31, 2023, we had 24,960,639 shares of common stock outstanding and approximately 369 stockholders of record. On January 17, 2024 we issued an additional 2,461,538 shares of our common stock at $32.50 per share in conjunction with the proposed merger with HomeStreet and related investment agreements.
In August 2022, our common stock began trading on the OTCQX® Best Market under the ticker symbol “FSUN”. There was no public trading market for the common stock before that date. Over-the-counter market quotations reflect inter-dealer prices, without retail mark-up, mark-down or commission and may not necessarily represent actual transactions.
Dividends
We have not declared or paid any cash dividends on our common stock since we converted from an S corporation to a C corporation in 2016. For the foreseeable future, we do not intend to declare cash dividends and instead we plan to retain earnings to grow our business.
Although we have no current expectations to pay dividends, any future determination relating to our dividend policy will be made by our board of directors and will depend on a number of factors. As a Delaware corporation and a bank holding company, dividend payments are subject to numerous limitations. For additional information, see Item 1. “Business –Supervision and Regulation—Bank Holding Company Regulation—Dividend Payments”, and Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations – Liquidity" and Note 16 - Stockholders’ Equity included in our consolidated financial statements included elsewhere in this report.
Item 6. [Reserved]
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