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 trades on the Nasdaq Stock Market under the symbol “ISPR.”
Holders
of Record
As of September 15, 2025, we had approximately 16 holders of record
of our Common Stock. Because most of our shares of Common Stock held by persons other than our original stockholders are held by brokers
and other institutions on behalf of stockholders, this number is not indicative of the total number of stockholders who beneficially own
our stock.
Dividend
Policy
We
have never declared or paid any cash dividends on our capital stock. We do not anticipate paying cash dividends on our Common Stock in
the foreseeable future. We currently intend to retain all available funds and any future earnings to support our operations and finance
the growth and development of our business. Any future determination related to our dividend policy will be made at the discretion of
our board of directors and will depend upon, among other factors, our results of operations, financial condition, capital requirements,
contractual restrictions, business prospects, the requirements of current or then-existing debt instruments and other factors our board
of directors may deem relevant. One of our subsidiaries declared a dividend payable to its then sole stockholder, Tuanfang Liu, our co-chief
executive officer. See “Item 13. Certain Relationships and Related Transactions, and Director Independence.”
Securities
Authorized for Issuance under Equity Compensation Plan
The
following table sets forth information concerning securities authorized under equity compensation plans as of June 30, 2025.
Plan Category
Number of
securities to
be issued upon
exercise of
outstanding
options, warrants and rights
(a) (1)
Weighted-average
exercise
price of
outstanding
options, warrants and rights
(b) (1)
Number of
securities
remaining
available for
future
issuance
under equity
compensation
plans (excluding securities reflected in column (a))
(c)
Equity compensation plans approved by security holders
1,438,125
$
8.15
11,616,039
Equity compensation plans not approved by security holders
-
$
-
-
Total
1,438,125
8.15
11,616,039
(1)
Excludes 1,582,865 shares of Common Stock reserved under our Amended and Restated 2022 Equity Incentive Plan, subject to the issuance of restricted stock units (“RSUs”) and performance stock units (“PSUs”).
Recent
Sales of Unregistered Securities
During
the three months ended June 30, 2025, the Company did not conduct any unregistered sales of equity securities.
38
Purchases
of Equity Securities by the Issuer and Affiliated Purchasers
Pursuant to the share repurchase program approved by the Company’s
board of directors on January 20, 2025, for a period of 24 months, the Company may repurchase up to $10 million of the currently outstanding
shares of the Company’s common stock. Under the approved repurchase program, the Company may purchase shares of the Company’s
common stock (i) in the open market, (ii) in privately negotiated transactions, (iii) block purchases, or (iv) otherwise in accordance
with applicable federal securities laws, including Rule 10b-18 of the Exchange Act. During the three month period ended June 30, 2025,
the Company did not repurchase any shares of its common stock.
ISSUER PURCHASES OF EQUITY SECURITIES (1)
Period
Total Number
of Shares
(or Units)
Purchased
Average Price
Paid per
Share
(or Unit)
Total Number
of Shares
(or Units)
Purchased
as Part of
Publicly
Announced
Plans or
Programs
Maximum
Number (or
Approximate
Dollar
Value) of
Shares (or
Units) that
May Yet Be
Purchased
Under the
Plans or
Programs
April (April 1, 2025 –
April 30, 2025)
-
-
-
$ 9,939,556
May (May 1, 2025 – May 31, 2025)
-
-
-
$ 9,939,556
June (June 1, 2025
– June 30, 2025)
-
$ -
-
$ 9,939,556
Total
-
$ -
-
$ 9,939,556
(1) On
January 20, 2025, the Company’s board of directors authorized the Company’s entry
into a program to repurchase up to $10 million of shares of the Company’s Common Stock,
as previously announced in the Company’s Current Report on Form 8-K filed with the
SEC on January 22, 2025. The board of directors’ authorization to conduct such a repurchase
program expires on January 20, 2027.
ITEM
6. [Reserved]