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
Market Information and Holders
Our Common Stock has been listed and traded on the NYSE under the symbol “JELD” since January 27, 2017. Prior to that time, there was no public trading market for our stock. As of February 17, 2022, there were approximately 1,362 shareholders of record of our Common Stock. The number of record holders does not include a substantially greater number of holders whose shares are held of record in nominee or “street name” accounts through banks, brokers, and other financial institutions.
Stock Performance Graph
The following graph depicts the total return to shareholders from January 27, 2017, the date our Common Shares became listed on the NYSE, through December 31, 2021, relative to the performance of the Standard & Poor's 500 Index and the Standard & Poor's 1500 Building Products Index. The graph assumes an investment of $100 in our Common Stock and each index on January 27, 2017, and the reinvestment of dividends paid since that date. The stock performance shown in the graph is not necessarily indicative of future price performance.
*$100 invested on 1/27/17 in stock or 12/31/16 in index, including reinvestment of dividends.
Fiscal year ended December 31.
Copyright© 2022 Standard & Poor's, a division of S&P Global. All rights reserved.
1/27/2017 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021
JELD-WEN Holding, Inc. $100.00 $150.73 $54.40 $89.62 $97.09 $100.92
S&P 500 $100.00 $121.83 $116.49 $153.17 $181.35 $233.41
S&P 1500 Building Products Index $100.00 $110.00 $86.71 $123.14 $173.84 $260.59
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Equity Compensation Plans
See Item 12- Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters for the information required by Item 201(d) of Regulation S-K regarding equity compensation plans.
Dividends
We do not currently expect to pay any cash dividends on our Common Stock for the foreseeable future. Instead, we intend to retain future earnings, if any, for the future operation and expansion of our business and the repayment of debt. Any determination to pay dividends in the future will be at the discretion of our Board of Directors and will depend upon our results of operations, cash requirements, financial condition, contractual restrictions, restrictions imposed by applicable laws, and other factors that our Board of Directors may deem relevant.
The terms of the agreements governing our existing or future indebtedness may limit our ability to pay dividends and make distributions to our shareholders. Our business is conducted through our subsidiaries and dividends from, and cash generated by, our subsidiaries will be our principal sources of cash to repay indebtedness, fund operations, and pay any dividends. Accordingly, our ability to pay dividends to our shareholders is dependent on the earnings and distributions of funds from our subsidiaries (which distributions may be restricted by the terms of our Corporate Credit Facilities, Senior Secured Notes, and Senior Notes).
Unregistered Sales of Equity Securities and Use of Proceeds
A summary of our repurchases of Common Stock during the fourth quarter of 2021 is as follows (in thousands, except share and per share amounts) :
(a) (b) (c) (d)
Period Total Number of Shares (or Units) Purchased Average Price Paid Per Share (or Unit) 1
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 2
September 26, 2021 - October 23, 2021 — $— — $178,906
October 24, 2021 - November 20, 2021 690,000 $26.79 690,000 $160,421
November 21, 2021 - December 31, 2021 1,124,199 $25.19 1,124,199 $132,105
Total
1,814,199 $25.80 1,814,199
1 Average price paid per share includes costs associated with the repurchases.
2 In July 2021, the Board of Directors increased the remaining authorization to a total of $400.0 million with no expiration date.
Item 6 - [Reserved]
Not applicable.
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