Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities
Graco Common Stock
Graco common stock is traded on the New York Stock Exchange under the ticker symbol “GGG.” As of January 14, 2022, the share price was $75.31 and there were 170,351,046 shares outstanding and 1,747 common shareholders of record, which includes nominees or broker dealers holding stock on behalf of an estimated 129,352 beneficial owners.
The graph below compares the cumulative total shareholder return on the common stock of the Company for the last five fiscal years with the cumulative total return of the S&P 500 Index and the Dow Jones U.S. Industrial Machinery Index over the same period (assuming the value of the investment in Graco common stock and each index was $100 on December 31, 2016, and all dividends were reinvested).
2016 2017 2018 2019 2020 2021
Dow Jones U.S. Industrial Machinery 100 133 114 155 180 223
S&P 500 100 122 116 153 181 233
Graco Inc. 100 166 152 196 277 310
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Issuer Purchases of Equity Securities
On April 24, 2015, the Board of Directors authorized the purchase of up to 18 million shares of common stock, primarily through open market transactions. There were approximately 3.3 million shares remaining under the authorization on December 7, 2018, when the Board of Directors authorized the purchase of up to an additional 18 million shares. The authorizations are for an indefinite period of time or until terminated by the Board.
In addition to shares purchased under the Board authorization, the Company purchases shares of common stock held by employees who wish to tender owned shares to satisfy the exercise price or tax due upon exercise of stock options or vesting of restricted stock.
Information on issuer purchases of equity securities follows:
Period Total
Number
of Shares
Purchased Average Price
Paid per
Share Total Number of
Shares Purchased
as Part of Publicly
Announced Plans
or Programs Maximum Number
of Shares that May
Yet Be Purchased
Under the Plans
or Programs
(at end of period)
Sep 25, 2021 - Oct 29, 2021 — $ — — 18,517,834
Oct 30, 2021 - Nov 26, 2021 — $ — — 18,517,834
Nov 27, 2021 - Dec 31, 2021 — $ — — 18,517,834
Item 6. [Reserved]
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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.