Item 5. Market for Registrant’s Common Equity
Item 5. Market for the Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities .
Our common stock is listed on the New York Stock Exchange (“NYSE”) under the symbol KD.
As of May 23, 2025, there were approximately 221,000 stockholders of record of our common stock. This is not the actual number of beneficial owners of the Company’s common stock as some shares are held in “street name” by brokers and others on behalf of individual owners.
Since the Separation, we have not paid cash dividends on our common stock. Future dividends, if any, and the timing of declaration of any such dividends, will be at the discretion of our Board of Directors and will depend upon many factors including, but not limited to, our results of operations, financial condition, level of indebtedness, capital
26
Table of Contents
requirements, contractual restrictions, restrictions in our debt agreements and in any preferred stock, business prospects and other factors that our Board of Directors deems relevant.
In November 2024, the Company’s Board of Directors authorized a share repurchase program of up to $300 million of the Company’s common stock (the “Share Repurchase Program”). During the year ended March 31, 2025, the Company repurchased 2.6 million shares of its common stock under the program at an aggregate cost of $94 million. A summary of our common stock repurchases during the three months ended March 31, 2025 is set forth in the table below.
Period
Total Number of Shares Repurchased (a)
Average Price Paid Per Share
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 (in millions)
January 1 - 31
268,362
$
37.91
268,362
$
260
February 1 - 28
566,091
38.95
566,091
238
March 1 - 31
932,676
34.54
932,676
206
Total
1,767,129
1,767,129
(a) All shares were repurchased in open market transactions pursuant to the $300 million Share Repurchase Program authorized by our Board of Directors and publicly announced on November 21, 2024. The Share Repurchase Program does not have a set expiration date and may be suspended, modified or discontinued at any time without prior notice. Amounts shown herein exclude common stock repurchases to settle tax withholdings related to the vesting of stock-based awards. See further description of the Stock Repurchase Program in “Part II, Item 7—Management’s Discussion and Analysis of Financial Condition and Results of Operations—Liquidity and Capital Resources— Share Repurchase Program.”
27
Table of Contents
Stock Performance Graph
The following graphs compare the cumulative total return of holders of our common stock with the cumulative total return of the S&P 400 Midcap Index and S&P IT Sector Index.
The graph below tracks the performance of a $100 investment in our common stock and in each index from November 4, 2021, the date our stock commenced regular-way trading on the NYSE, to March 31, 2025.
28
Table of Contents
The graph below tracks the performance of a $100 investment in our common stock and in each index from April 1, 2024, the beginning of our fiscal year, to March 31, 2025.
Item 6. [Reserved]
29
Table of Contents