2 unchanged sentences
The closing price per share of the Corporation's common stock on February 17, 2023 was $17.37.
−Removed: The common stock of the Corporation is traded on the Global Select Market of The Nasdaq Stock Market under the symbol FULT.
−Removed: The following table presents the quarterly high and low prices of the Corporation’s stock and per share cash dividends declared for each of the quarterly periods in 2021 and 2020:
−Removed: Price Range Per
−Removed: Share Dividend
−Removed: First Quarter $ 18.41 $ 12.41 $ 0.14
−Removed: Second Quarter 18.34 15.46 0.14
−Removed: Third Quarter 16.27 14.16 0.14
−Removed: Fourth Quarter 17.39 15.28 0.22
−Removed: First Quarter $ 17.62 $ 10.07 $ 0.13
−Removed: Second Quarter 12.97 8.91 0.13
−Removed: Third Quarter 10.88 8.89 0.13
−Removed: Fourth Quarter 13.67 9.15 0.17
+Added: The common stock of the Corporation is traded on the Nasdaq Global Select Market under the symbol "FULT".
+Added: On July 1 2022, the Corporation reissued 6.2 million shares of treasury stock and paid $29.3 million in cash as consideration for the Prudential Bancorp acquisition.
Restrictions on the Payments of Dividends
−Removed: The Corporation is a separate and distinct legal entity from its banking and nonbanking subsidiaries and depends on the payment of dividends from its subsidiaries, principally its banking subsidiary, for substantially all of its revenues.
+Added: The Corporation is a separate and distinct legal entity from its banking and nonbanking subsidiaries and depends on the payment of dividends from its subsidiaries, principally Fulton Bank, for substantially all of its revenues.
As a result, the Corporation's ability to make dividend payments on its common stock depends primarily on compliance with applicable federal regulatory requirements and the receipt of dividends and other distributions from its subsidiaries.
−Removed: There are various regulatory and prudential supervisory restrictions, which may change from time to time, that impact the ability of its banking subsidiaries to pay dividends or make other payments to the Corporation.
+Added: There are various regulatory and prudential supervisory restrictions, which may change from time to time, that impact the ability of its banking subsidiary to pay dividends or make other payments to the Corporation.
In addition, dividends on the Corporation's common stock may not be declared, paid or set aside for payment unless the full dividends for the immediately preceding dividend payment period for the Corporation's Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A have been declared and paid or declared and a sum sufficient for the payment thereof has been set aside.
For additional information regarding the regulatory restrictions applicable to the Corporation and its subsidiaries, see "Supervision and Regulation," in "Item 1.
−Removed: "Business;" Item 1A.
−Removed: "Risk Factors - The Corporation is a holding company and relies on dividends and other payments from its subsidiaries for substantially all of its revenue and its ability to make dividend payments, distributions and other payments," under "Risks Related to an Investment in the Corporation’s Securities;" and "Note 11 - Regulatory Matters," in the Notes to Consolidated Financial Statements in Item 8.
+Added: Risk Factors" - Risks Related to an Investment in Our Securities - We are a bank holding company and rely on dividends and other payments from our subsidiaries for substantially all of our revenue and our ability to make dividend payments, distributions and other payments ;" and "Note 12 - Regulatory Matters," in the Notes to Consolidated Financial Statements in Item 8.
"Financial Statements and Supplementary Data."
Securities Authorized for Issuance under Equity Compensation Plans
−Removed: The following table provides information about options outstanding under the Corporation’s Employee Equity Plan and the number of securities remaining available for future issuance under the Employee Equity Plan, Directors' Plan and the ESPP as of December 31, 2021:
+Added: The following table provides information about options outstanding under the Corporation's Employee Equity Plan and the number of securities remaining available for future issuance under the Employee Equity Plan, the Directors' Plan and the ESPP as of December 31, 2022:
Plan Category Number of securities to be
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Performance Graph
−Removed: The following graph shows cumulative total shareholder return (i.e., price change, plus reinvestment of dividends) on the common stock of the Corporation during the five-year period ended December 31, 2021, compared with (1) the Nasdaq Bank Index and (2) the Standard and Poor's 500 index ("S&P 500").
+Added: The following graph shows cumulative total shareholder return (i.e., price change, plus reinvestment of dividends) on the common stock of the Corporation during the five-year period ended December 31, 2022, compared with (1) the Nasdaq Bank Index and (2) the S&P 500.
The graph is not indicative of future price performance.
−Removed: The graph below is furnished under this Part II, Item 5 of this Form 10-K and shall not be deemed to be "soliciting material" or to be "filed" with the SEC or subject to Regulation 14A or 14C, or to the liabilities of Section 18 of the Securities Exchange Act of 1934, as amended.
+Added: The graph below is furnished under this Part II, Item 5 of this Form 10-K and shall not be deemed to be "soliciting material" or to be "filed" with the SEC or subject to Regulation 14A or 14C, or to the liabilities of Section 18 of the Exchange Act.
Year Ending December 31
4 unchanged sentences
Issuer Purchases of Equity Securities
−Removed: The following table presents the Corporation's monthly repurchases of our common stock during the fourth quarter of 2021:
−Removed: Period Total Number of Shares Purchased 1
−Removed: Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs 2
−Removed: October 1, 2021 to October 31, 2021 200,430 $ 15.74 200,430 $ 45,754,230
−Removed: November 1, 2021 to November 30, 2021 54,773 15.75 54,773 44,891,823
−Removed: December 1, 2021 to December 31, 2021 856,290 16.05 856,290 31,147,473
−Removed: 1 Excludes immaterial shares repurchased to settle employee tax withholding related to the vesting of stock awards.
−Removed: 2 On February 9, 2021, the Corporation announced that its board of directors approved the repurchase of up to $75.0 million of the Corporation's outstanding common stock
−Removed: through December 31, 2021.
−Removed: On November 19, 2021, the Corporation announced that its board of directors had approved the extension of this program through March 31, 2022.
−Removed: Selected Financial Data
−Removed: The information previously required by Item 6 of this 10-K has been intentionally omitted, as permitted by the SEC in connection with its adoption of its final rules regarding the amendment to modernize, simplify, and enhance financial disclosure requirements of registrants.
+Added: There were no repurchases of our common stock during the fourth quarter of 2022.
+Added: On December 20, 2022, the Corporation announced that its board of directors approved the 2023 Repurchase Program.
+Added: The 2023 Repurchase Program will expire on December 31, 2023.
+Added: Under the 2023 Repurchase Program, the Corporation is authorized to repurchase up to $100.0 million of shares of its common stock, or approximately 3.6% of its outstanding shares, through December 31, 2023.
+Added: As permitted by securities laws and other legal requirements and subject to market conditions and other factors, purchases may be made from time to time under the 2023 Repurchase Program in open market or privately negotiated transactions, including
+Added: without limitation, through accelerated share repurchase transactions.
+Added: The 2023 Repurchase Program may be discontinued at any time.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.