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 is traded on the New York Stock Exchange (“NYSE”) under the symbol “HLX.” On February 17, 2022, the closing sale price of our common stock on the NYSE was $4.18 per share. As of February 17, 2022, there were 284 registered shareholders and approximately 93,650 beneficial shareholders of our common stock.
We have not declared or paid cash dividends on our common stock in the past nor do we intend to pay cash dividends in the foreseeable future. We currently intend to retain earnings, if any, for the future operation and growth of our business. In addition, our current financing arrangements restrict the payment of cash dividends on our common stock. See Management’s Discussion and Analysis of Financial Condition and Results of Operations “— Liquidity and Capital Resources.”
Shareholder Return Performance Graph
The following graph compares the cumulative total shareholder return on our common stock for the period since December 31, 2016 to the cumulative total shareholder return for (i) the stocks of 500 large-cap corporations maintained by Standard & Poor’s (“S&P 500”), assuming the reinvestment of dividends; (ii) the Philadelphia Oil Service Sector index (the “OSX”), a price-weighted index of leading oil service companies, assuming the reinvestment of dividends; and (iii) a peer group selected by us as of January 2021 (the “Peer Group”) including the following companies: Archrock, Inc., Core Laboratories N.V., Dril-Quip, Inc., Expro Group Holdings N.V., Forum Energy Technologies, Inc., Halliburton Company, Helmerich & Payne, Inc., Nabors Industries Ltd., Newpark Resources, Inc., NOV Inc., Oceaneering International, Inc., Oil States International, Inc., RPC, Inc., Schlumberger Limited, TETRA Technologies, Inc., and Transocean Ltd. The returns of each member of the Peer Group have been weighted according to each individual company’s equity market capitalization as of December 31, 2021 and have been adjusted for the reinvestment of any dividends. We believe that the members of the Peer Group provide services and products more comparable to us than those companies included in the OSX. The graph assumes $100 was invested on December 31, 2016 in our common stock at the closing price on that date price and on December 31, 2016 in the three indices presented. We paid no cash dividends during the period presented. The cumulative total percentage returns for the period presented are as follows: our stock — (64.6)%; the Peer Group — (58.5)%; the OSX — (68.4)%; and S&P 500 — 133.4%. These results are not necessarily indicative of future performance.
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Comparison of Five Year Cumulative Total Return among Helix, S&P 500,
OSX and Peer Group
As of December 31,
2016
2017
2018
2019
2020
2021
Helix
$
100.0
$
85.5
$
61.3
$
109.2
$
47.6
$
35.4
Peer Group Index
$
100.0
$
85.7
$
49.5
$
53.3
$
32.8
$
41.5
Oil Service Index
$
100.0
$
82.8
$
45.4
$
45.1
$
26.1
$
31.6
S&P 500
$
100.0
$
121.8
$
116.5
$
153.2
$
181.4
$
233.4
Source: Bloomberg
Issuer Purchases of Equity Securities
(c)
Total number of
(d)
shares
Maximum
(a)
(b)
purchased as
number of shares
Total number
Average
part of publicly
that may yet be
of shares
price paid
announced
purchased under
Period
purchased (1)
per share
program
the program (2) (3)
October 1 to October 31, 2021
—
$
—
—
7,908,635
November 1 to November 30, 2021
—
—
—
7,908,635
December 1 to December 31, 2021
37,842
3.25
—
8,182,193
37,842
$
3.25
—
(1) Includes shares forfeited in satisfaction of tax obligations upon vesting of restricted shares.
(2) Under the terms of our stock repurchase program, we may repurchase shares of our common stock in an amount equal to any equity granted to our employees, officers and directors under our share-based compensation plans, including share-based awards under our existing long-term incentive plans and shares issued to our employees under our Employee Stock Purchase Plan (Note 14), and such shares increase the number of shares available for repurchase. For additional information regarding our stock repurchase program, see Note 11.
(3) In December 2021, we issued 273,558 shares of restricted stock to independent members of our Board. In January 2022, we issued 15,775 shares of restricted stock to certain independent members of our Board who elected to take their 2021 quarterly fees in stock in lieu of cash. These issuances increase the number of shares available for repurchase under our stock repurchase program by a corresponding amount.
Item 6. [Reserved]