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
Our common shares began trading on the NYSE under the symbol “FTAI” on May 15, 2015, the date of the IPO. As of February 22, 2022, there were approximately 11 record holders of our common shares. This figure does not reflect the beneficial ownership of shares held in nominee name.
Although we currently intend to continue to pay regular quarterly dividends to holders of our common shares, we may change our dividend policy at any time and no assurances can be given that any future dividends will be paid or, if paid, as to the amounts or timing. The declaration and payment of dividends to holders of our common shares will be at the discretion of our board of directors in accordance with applicable law after taking into account various factors, including actual results of operations, liquidity and financial condition, net cash provided by operating activities, restrictions imposed by applicable law, our taxable income, our operating expenses and other factors our board of directors deem relevant.
On February 24, 2022, our Board of Directors declared a cash dividend on our common shares of $0.33 per share for the quarter ended December 31, 2021, payable on March 23, 2022 to the holders of record on March 11, 2022.
Nonqualified Stock Option and Incentive Award Plan
In 2015, in connection with the IPO, we established a Nonqualified Stock Option and Incentive Award Plan (“Incentive Plan”) which provides for the ability to award equity compensation awards in the form of stock options, stock appreciation rights, restricted stock, and performance awards to eligible employees, consultants, directors, and other individuals who provide services to us, each as determined by the Compensation Committee of the Board of Directors. As of December 31, 2021, the Incentive Plan provides for the issuance of up to 29.8 million shares.
The following table summarizes the total number of outstanding securities in the Incentive Plan and the number of securities remaining for future issuance, as well as the weighted average strike price of all outstanding securities as of December 31, 2021.
Equity Compensation Plan Information
Plan category Number of securities to be issued upon exercise of outstanding options, warrants, and rights Weighted-average exercise price of outstanding options, warrants, and rights Number of securities remaining available for future issuance under equity compensation plans (1)
Equity compensation plans approved by security holders 3,762,742 $ 21.02 29,837,754
Equity compensation plans not approved by security holders — — —
Total 3,762,742 29,837,754
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(1) Excludes 25,000 stock options and 137,246 common shares issued to directors as compensation.
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Performance Graph
The following graph compares the cumulative total return for our common shares (stock price change plus reinvested dividends) with the comparable return of three indices: S&P Mid Cap 400, Dow Jones US Transportation Services, and Alerian MLP. The graph assumes an investment of $100 in our common shares and in each of the indices on December 31, 2016, and that all dividends were reinvested. The past performance of our shares is not an indication of future performance.
COMPARISON OF CUMULATIVE TOTAL RETURN*
Among Fortress Transportation & Infrastructure Investors LLC, the S&P Midcap 400 Index, the Dow Jones US Transportation Services Index and Alerian MLP
*$100 each invested on December 31, 2016 in stock and index, including reinvestment of dividends. Fiscal year ending December 31.
(in whole dollars) December 31,
Index 2016 2017 2018 2019 2020 2021
Fortress Transportation & Infrastructure Investors LLC $ 100.00 $ 162.23 $ 126.23 $ 186.65 $ 249.87 $ 322.98
S&P Midcap 400 100.00 116.24 103.36 130.44 148.26 184.96
Dow Jones US Transportation Services 100.00 129.85 78.55 106.52 127.62 191.06
Alerian MLP 100.00 93.48 81.87 87.24 62.21 87.20
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Item 6. [Reserved]