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
Holders of Record
Our common stock is traded on The NASDAQ Global Select Market under the symbol “GEOS”. On October 29, 2021, there were approximately 137 holders of record of our common stock, and the closing price per share on such date was $9.51 as quoted by The NASDAQ Global Select Market.
Market Information for Common Stock
The following table shows the high and low per share sales prices for our common stock reported on The NASDAQ Global Select Market.
Year Ended September 30, 2021:
Low
High
Fourth Quarter
$
7.78
$
10.94
Third Quarter
7.30
9.36
Second Quarter
8.15
12.40
First Quarter
5.02
10.29
Year Ended September 30, 2020:
Fourth Quarter
$
5.64
$
8.15
Third Quarter
5.00
9.57
Second Quarter
4.61
16.96
First Quarter
13.18
17.66
Dividends
Since our initial public offering in 1997, we have not paid dividends, and we do not intend to pay cash dividends on our common stock in the foreseeable future. We presently intend to retain our earnings for use in our business, with any future decision to pay cash dividends dependent upon our growth, profitability, financial condition and other factors our Board of Directors may deem relevant.
Securities Authorized for Issuance under Equity Compensation Plans
The following equity plan information is provided as of September 30, 2021:
Equity Compensation Plan Information
Plan Category
Number of Securities
to be Issued upon
Exercise of
Outstanding Options,
Warrants and Rights
(a)
Weighted-average
Exercise Price of
Outstanding Options,
Warrants and Rights
(b)
Number of Securities
Remaining Available
for Future Issuance
Under Equity
Compensation Plans
(Excluding Securities
Reflected in Column
(a)) (c)
(In shares)
(In dollars per share)
(In shares)
Equity Compensation Plans Approved
by Security Holders (1)
338,174
21.42 (2)
1,653,236
Equity Compensation Plans Not Approved
by Security Holders
—
—
—
Total
338,174
21.42 (2)
1,653,236
(1)
The number of securities shown in column (c) represents number of securities remaining available for issuance under the Company’s 2014 Long Term Incentive Plan, as amended (the “2014 Plan”). The 2014 Plan allows for the issuance of restricted stock awards, performance stock awards, performance stock unit awards, restricted stock unit awards (the foregoing, “Full Value Awards”), stock options and stock appreciation rights. For purposes of calculating the number of securities remaining
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under the 2014 Plan in column (c), Full Value Awards are counted as 1.5 shares for each share awarded. The number of securities shown in column (a) of the table above represents 38 , 8 00 stock options and 2 99 , 374 restricted stock unit awards outstanding under the 2014 Plan.
(2)
The calculation of the weighted-average exercise price of outstanding options, warrants and rights excludes restricted stock unit awards.
Recent Sales of Unregistered Securities and Use of Proceeds
None.
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
The following table provides information with respect to purchases of common stock of the Company made during the three months ended September 30, 2021:
Period
Total Number of Shares Purchased (1)
Average Price Paid per Share
Total Number of Shares Purchased as Part of Publicly Announced Program
Approximate Dollar Value of Shares that May Yet Be Purchased Under the Program (1)
July 1, 2021 through July 31, 2021
112,754
$
8.46
112,754
$
452,417
August 1, 2021 through August 31, 2021
107,793
9.67
107,793
1,904,279
September 1, 2021 through September 30, 2021
124,883
9.63
124,883
694,956
(1)
On November 19, 2020, the Company announced that its board of directors authorized a stock buy-back program which authorized the Company to repurchase up to $5 million of its common stock in open market transactions. On August 5, 2021, the board of directors increased the repurchase limit under the program to $7.5 million. Common stock repurchases will be made in accordance with applicable federal securities laws, and could include repurchases pursuant to Rule 10b5-1 trading plans, which allows stock repurchases when the Company might otherwise be precluded from doing so. The repurchase program has no time limit, does not obligate the Company to acquire a specified number of shares and may be modified, suspended or discontinued at any time at the Company’s discretion.
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Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.