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
Jackson Financial's common stock is listed on the NYSE under the symbol, "JXN", and began trading on September 20, 2021. Prior to that date, there was no public trading market for our common stock. As of February 18, 2025, the approximate number of shareholders of record at the close of business on that date was 1,100 and the approximate number of beneficial owners was 84,600.
Equity Compensation Plans
Our table of equity compensation plans is incorporated from Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters in this Form 10-K.
Issuer Purchases of Equity Securities
Period Total Number of Shares Purchased Average Price Paid Per Share Total Number of Shares Purchased as Part of Publicly Announced Program (1)
Maximum Dollar Value of Shares that May Yet Be Purchased Under the Program (in millions) (1)
October 1, 2024 - October 31, 2024
Share repurchase program 469,244 $ 98.05 469,244 $ 686
Employee transactions (2)
— — N/A N/A
November 1, 2024 - November 30, 2024
Share repurchase program 261,631 103.14 261,631 659
Employee transactions (2)
3,084 113.74 N/A N/A
December 1, 2024 - December 31, 2024
Share repurchase program 243,449 93.64 243,449 636
Employee transactions (2)
6,808 98.89 N/A N/A
Totals
Share repurchase program 974,324 974,324
Employee transactions (2)
9,892 N/A
984,216 974,324
(1) On August 1, 2024, our Board of Directors authorized an increase of $750 million in our existing authorization to repurchase shares of our outstanding common stock as part of the Company's share repurchase program. As of February 18, 2025, the Company had remaining authorization to purchase $568 million of its common shares. For more information on common stock repurchases and our existing share repurchase authorization, see Item 8. Financial Statements and Supplementary Data - Note 24 - Equity of the Notes to Consolidated Financial Statements included elsewhere in this Form 10-K.
(2) Includes shares withheld pursuant to the terms of awards under the Company's 2021 Omnibus Incentive Plan to cover tax withholding obligations that occur upon vesting and release of shares, which are treated as share repurchases. The value of the shares withheld is the closing price of common stock of Jackson Financial on the date the relevant vesting date occurs; or, if the shares vest on a non-trading day, then the value of the shares withheld is based on the closing stock price from the trading day immediately prior to the vesting date.
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Part II | Item 5. Market for Registrant’s Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities
Common Stock Performance Graph
The graph and table, below, compare the total return on our common stock with the total return on the S&P Global Ratings (“S&P”) 500, S&P 500 Insurance, S&P 500 Financials, and S&P Insurance Index Select Industry Total Return indices, respectively, between September 20, 2021 (the date that our common stock commenced regular way trading on the NYSE) through December 31, 2024. The graph and table show the total return on a hypothetical $100 investment in (i) our shares of common stock on September 20, 2021, including the reinvestment of all dividends and (ii) each index on September 20, 2021.
9/20/2021 12/31/2021 12/31/2022 12/31/2023 03/31/2024 06/30/2024 09/30/2024 12/31/2024
Jackson Financial Inc. $ 100.00 $ 162.50 $ 141.65 $ 226.00 $ 296.05 $ 335.60 $ 415.69 $ 398.78
S&P 500 Index 100.00 109.37 88.11 109.46 120.58 125.31 132.24 134.97
S&P 500 Insurance Index 100.00 107.51 116.26 124.78 145.02 141.00 159.87 155.81
S&P 500 Financial Index 100.00 106.77 93.58 102.88 115.20 112.39 123.87 132.13
S&P Insurance Index Select Industry Total Return (1)
100.00 109.16 113.34 127.55 147.80 142.12 162.24 162.63
(1) The Company elected in 2024 to change the industry peer group index to the S&P Insurance Index Select Industry Total Return Index (the "Industry Total Return Index") from the S&P Insurance Select Industry Index. The indices are calculated in the same manner, except that the Industry Total Return Index includes dividends, which we believe provides a more complete picture of cumulative return. Based on a hypothetical $100 investment on September 20, 2021, the S&P Insurance Select Industry Index would have shown the following total return: $106.97 at December 31, 2021, $108.77 at December 31, 2022, $120.00 at December 31, 2023, $138.38 at March 31, 2024, $132.45 at June 30, 2024, $150.62 at September 30, 2024, and $150.27 at December 31, 2024.
Item 6. [Reserved]
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