Item 5. Market for Registrant’s Common Equity
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED SHAREHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Common Stock Data and Dividends
The common stock of the Company is traded under the symbol “ITIC” on the Nasdaq Stock Market LLC. The number of record holders of common stock at December 31, 2025 was 191. The number of record holders is based upon the actual number of holders registered on the books of the Company at such date and does not include holders of shares in “street name” or persons, partnerships, associations, corporations or other entities identified in security position listings maintained by securities depositories.
The Company’s current dividend policy anticipates the payment of quarterly dividends in the future. The declaration and payment of dividends will be at the discretion of the Board of Directors and will be dependent upon the Company’s future earnings, financial condition and capital requirements. The Company’s ability to pay dividends is also subject to certain regulatory restrictions on the payment of dividends by its insurance subsidiaries as described in the “Liquidity and Capital Resources” section of “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and Note 2 to the Consolidated Financial Statements.
The following table provides information about purchases by the Company (and all affiliated purchasers), during the quarter ended December 31, 2025, of equity securities that are registered by the Company pursuant to Section 12 of the Exchange Act:
Issuer Purchases of Equity Securities (unrounded)
Period Total Number of
Shares Purchased Average Price
Paid per Share Total Number of
Shares Purchased as
Part of Publicly
Announced Plan Maximum
Number of Shares
that May Yet Be
Purchased Under
the Plan (1)
Beginning of period 413,177
October 1 through October 31, 2025
— $ — — 413,177
November 1 through November 30, 2025
— — — 413,177
December 1 through December 31, 2025
— — — 413,177
Total
— $ — — 413,177
(1) On November 9, 2015, the Board of Directors of the Company approved the purchase of an additional 163,335 shares pursuant to the Company’s repurchase plan, such that there was authority remaining under the plan to purchase up to an aggregate of 500,000 shares of the Company’s common stock pursuant to the plan immediately after this approval. During the quarter and year ended December 31, 2025, the Company purchased no shares of common stock under the Company’s repurchase plan, respectively. As of December 31, 2025, there was authority remaining under the plan to purchase up to an aggregate of 413,177 shares of the Company’s common stock. Unless terminated earlier by resolution of the Board of Directors, the plan will expire when all shares authorized for purchase under the plan (as such number may be amended by the Board from time to time) have been purchased. The Company anticipates making further purchases under this plan from time to time in the future, depending on such factors as the prevailing market price of the Company’s common stock, the Company’s available cash and the existing alternative uses for such cash.
20
Performance Graph
Presented below is a line graph comparing the yearly percentage change in the cumulative total return on the Company’s common stock to the cumulative return of the NASDAQ Composite Index and a peer group consisting of certain companies in the title insurance industry (SIC Code 6361) for the period commencing December 31, 2020 and ending December 31, 2025. The graph assumes that $100 was invested in the Company’s common stock, the S&P Small Cap 600 Index and the peer group on December 31, 2020 and that all dividends were reinvested on a quarterly basis. Returns for the companies included in the peer group have been weighted on the basis of the total market capitalization for each company.
12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Investors Title Company $ 100.00 $ 140.95 $ 108.78 $ 124.27 $ 192.64 $ 211.45
S&P Small Cap 600 Index 100.00 126.82 106.40 123.48 134.22 142.30
Peer Group Index 100.00 145.79 107.18 147.52 162.78 169.22
The Peer Group consists of Fidelity National Financial, Inc. (FNF), Stewart Information Services Corporation (STC) and First American Financial Corporation (FAF).
ITEM 6. [Reserved]