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
Market information
Our common stock is listed on the NASDAQ Global Select Market under the symbol "HQY."
Holders
As of March 3, 2026, there were 19 holders of record of our common stock. This stockholder figure does not include a substantially greater number of holders whose shares are held of record by banks, brokers, and other financial institutions.
Dividend policy
We have no current plans to pay dividends on our common stock. Any decision to declare and pay dividends in the future will be made at the sole discretion of our board of directors and will depend on, among other things, our results of operations, cash requirements, financial condition, contractual restrictions, and other factors that our board of directors may deem relevant.
Issuer Purchases of Equity Securities
The following table presents information with respect to HealthEquity's repurchases of common stock during the three months ended January 31, 2026 (in thousands, except average price paid per share).
Period Total number of shares purchased (1) Average price paid per share (2) Total number of shares purchased as part of publicly announced plans or programs Approximate dollar value of shares that may yet be purchased under the plans or programs
November 1 - 30 217 $ 98.99 217 $ 237,346
December 1 - 31 289 $ 94.85 289 $ 209,929
January 1 - 31 371 $ 86.94 371 $ 177,705
Total 877 877
(1) Repurchases may be effected through open market purchases, privately negotiated transactions or otherwise, including through Rule 10b5-1 plans. For additional information related to our stock repurchase program, see Note 10—Stockholders' equity to our financial statements included in Part II, Item 8 of this Annual Report on Form 10-K.
(2) Average price paid per share includes transaction fees but excludes excise taxes associated with the repurchases.
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Performance graph
This performance graph shall not be deemed "filed" for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities under that section and shall not be deemed to be incorporated by reference into any of our filings under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
The following graph compares the cumulative total return of our common stock with the total return of the NASDAQ Composite Index (the "NASDAQ Composite"), the Russell 3000 Index (the "Russell 3000"), and the Russell 2000 Index (the "Russell 2000") from January 31, 2021 through January 31, 2026. Beginning with this Form 10-K for the fiscal year ended January 31, 2026, we changed one of our benchmark indexes from the Russell 2000 to the Russell 3000, as we believe that the Russell 3000 is more representative of our median peer group market capitalization. Data for the Russell 2000 is provided for comparison purposes only as we transition to use of the Russell 3000. The chart assumes $100 was invested on January 31, 2021 in the common stock of HealthEquity, Inc., the NASDAQ Composite, the Russell 3000, and the Russell 2000, and assumes reinvestment of any dividends. The stock price performance on the following graph is not necessarily indicative of future stock price performance.
Unregistered sales of equity securities
None.
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Item 6. Reserved