Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Stoc kholder Matters and Issuer Purchases of Equity Securities.
Market Information
Shares of our common stock, $0.01 par value per share, are quoted under the symbol “HGBL” on the Nasdaq Stock Market.
Holders
As of March 1, 2025, we had approximately 323 holders of common stock of record.
Dividends
To date, we have not paid dividends on our common stock nor do we anticipate that we will pay dividends in the foreseeable future. As of December 31, 2024, we did not have any preferred stock outstanding that has any preferential dividends.
Recent Sales of Unregistered Securities.
On December 12, 2024, the Company issued 14,001 shares of common stock to certain accredited personnel pursuant to the exercise of stock options. On December 17, 2024, the Company issued an additional 25,758 shares of common stock to certain accredited personnel pursuant to the exercise of stock options. These securities were issued in reliance on the exemption set forth in Section 4(a)(2) of the Securities Act of 1933, as amended.
Issuer Purchases of Equity Securities.
During the three months ended December 31, 2024, repurchases of the Company's common stock were as follows:
Period
(a) Total Number of Shares Purchased [1]
(b) Average Price Paid per Share [2]
(c) Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs
(d) Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs [3]
October 1 through October 31, 2024
271,220
$
1.70
1,268,844
$
3,686,720
November 1 through November 30, 2024
179,552
$
1.67
1,448,396
$
3,386,594
December 1 through December 31, 2024
214,187
$
1.77
1,662,583
$
3,007,858
[1] No shares of our common stock were purchased other than through a publicly announced plan or program.
[2] Amounts in this column reflect weighted average price paid per share, which includes commissions and other expenses associated with the repurchases.
[3] Our Board of Directors authorized a share repurchase program on May 5, 2022 (“Repurchase Program”), which permits the Company to purchase up to an aggregate of $4.0 million in common shares over a three year period ending in June 2025. On September 13, 2024, our Board of Directors approved an amendment to the Company’s existing share repurchase program to (i) increase the authorized aggregate amounts of shares of the Company’s common stock the Company may repurchase from $4.0 million to $6.0 million and (ii) extend the term of the Repurchase Program from May 4, 2025 to June 30, 2025. This column reflects the approximate dollar value of shares of our common stock that are available for purchase under the Repurchase Program, as amended.
Item 6. [ Reserved].
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