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 stock trades on the New York Stock Exchange under the ticker symbol "GPN." As of February 12, 2024, there were 11,706 shareholders of record.
Equity Compensation Plan Information
The information regarding our compensation plans under which equity securities are authorized for issuance is set forth in "Item 12—Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters" of this Annual Report.
Stock Performance Graph
The following graph compares our cumulative shareholder returns with the Standard & Poor's ("S&P") 500 Index and the S&P 500 Financials Index for the years ended December 31, 2023, 2022, 2021, 2020, and 2019. The line graph assumes the investment of $100 in our common stock, the S&P 500 Index and the S&P 500 Financials Index on December 31, 2018 and assumes reinvestment of all dividends.
Global Payments was reclassified by S&P to the Financials sector of the S&P 500 from the Information Technology sector under the revised Global Industry Classification Standard (GICS®) structure in March 2023. We are reflecting this sector change in the performance graph below to be consistent with the revised classification.
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COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN*
Among Global Payments Inc., the S&P 500 Index and the S&P 500 Financials Index
*$100 invested on December 31, 2018 in stock or index, including reinvestment of dividends.
Fiscal year ending December 31
Copyright© 2023 Standard & Poor's, a division of S&P Global. All rights reserved.
Global
Payments S&P 500
Index S&P 500
Financials Index
December 31, 2018 $ 100.00 $ 100.00 $ 100.00
December 31, 2019 $ 177.25 $ 131.49 $ 132.13
December 31, 2020 $ 210.10 $ 155.68 $ 129.89
December 31, 2021 $ 132.55 $ 200.37 $ 175.40
December 31, 2022 $ 98.22 $ 164.08 $ 156.92
December 31, 2023 $ 126.72 $ 207.21 $ 175.99
Recent Sales of Unregistered Securities
There were no unregistered sales of equity securities during the year ended December 31, 2023.
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Issuer Purchases of Equity Securities
Information about the shares of our common stock that we repurchased during the quarter ended December 31, 2023 is set forth below:
Period Total Number of
Shares Purchased (1)
Approximate Average Price Paid per Share, excluding commission Total Number of
Shares Purchased as Part of
Publicly Announced
Plans or Programs Maximum Number (or
Approximate Dollar Value) of Shares that May Yet Be Purchased Under the Plans or Programs (2)
(in millions)
October 1-31, 2023 6,215 $ 115.44 — $ —
November 1-30, 2023 2,652 110.31 — —
December 1-31, 2023 4,389 117.92 — —
Total 13,256 $ 109.38 — $ 1,090.2
(1) Our board of directors authorized us to repurchase shares of our common stock through any combination of Rule 10b5-1 open-market repurchase plans, accelerated share repurchase plans, discretionary open-market purchases or privately negotiated transactions.
During the quarter ended December 31, 2023, pursuant to our employee incentive plans, we withheld 13,256 shares at an average price per share of $115.24 in order to satisfy employees' tax withholding and payment obligations in connection with the vesting of awards of restricted stock.
(2) As of December 31, 2023, the approximate dollar value of shares that may yet be purchased under our share repurchase program was $1,090.2 million. On January 25, 2024, our board of directors approved an increase to our existing share repurchase program authorization, which raised the total available authorization to $2.0 billion. The authorizations by our board of directors do not expire, but could be revoked at any time. In addition, we are not required by any of our board of directors' authorizations or otherwise to complete any repurchases by any specific time or at all.
ITEM 6 - [RESERVED]