Kimball Electronics, Inc. 10-K

Item 5 - Market for Registrant’s Common Equity, Related Share Owner Matters and Issuer Purchases of Equity Securities Market Information The Company’s common stock trades on the Nasdaq Global Select Market of The Nasdaq Stock Market LLC (“Nasdaq”) under the symbol: KE. Dividends Since inception, we have not paid any dividends on our common stock, and we currently do not have plans to pay dividends in fiscal year 2024. Our Board of Directors (the “Board”) regularly reviews our capital allocation strategy. Share Owners On August 2, 2023, the Company’s common stock was owned by approximately 1,079 Share Owners of record. Securities Authorized for Issuance Under Equity Compensation Plans The information required by this item concerning securities authorized for issuance under equity compensation plans is incorporated by reference to Item 12 - Security Ownership of Certain Beneficial Owners and Management and Related Share Owner Matters of Part III. Issuer Purchases of Equity Securities On October 21, 2015, our Board approved an 18-month stock repurchase plan (the “Plan”), authorizing the repurchase of up to $20 million worth of our common stock. Then, separately on each of September 29, 2016, August 23, 2017, November 8, 2018, and November 10, 2020, the Board extended and increased the Plan to allow the repurchase of up to an additional $20 million worth of common stock with no expiration date, which brought the total authorized stock repurchases under the Plan to $100 million. During the three months ended June 30, 2023 and fiscal year 2023, the Company did not purchase any common stock. The Company’s maximum value of remaining shares that may be purchased under the Plan was $11.2 million at June 30, 2023. 22 Performance Graph The following performance graph is not deemed to be “soliciting material” or to be “filed” with the SEC or subject to Regulation 14A or 14C under the Exchange Act or to the liabilities of Section 18 of the Exchange Act and will not be deemed to be incorporated by reference into any filing under the Securities Act or the Exchange Act, except to the extent the Company specifically incorporates it by reference into such a filing. The graph below compares the cumulative total return to Share Owners of the Company’s common stock for the five-year period commencing June 30, 2018 and ending June 30, 2023 to the cumulative total return of the Nasdaq Stock Market (U.S.), the Russell 2000 Electronic Components subindex, and the reference group index that we used in prior years, all for the same period of time. Beginning with our performance graph presented in this Annual Report on Form 10-K, we determined that we would compare our performance to the Russell 2000 Electronic Components subindex instead of the reference group index we used previously. We are currently a member of the Russell 2000 Electronics Components subindex and believe that this market capitalization-weighted index reflects issuers with broadly similar market capitalizations that operate in our industry. We also believe that this subindex provides a more meaningful comparison of the cumulative return of our stock than any other lines of business or published industry index or peer groups (including our prior peer group). Our former cumulative total shareholder return (“TSR”) reference group index was comprised of: Benchmark Electronics, Inc., Flex Ltd., Jabil Inc., Plexus Corp., and Sanmina Corporation, each of which is a publicly traded company in the EMS industry. The public companies included in this former cumulative TSR reference group each have a larger revenue base than we do. The graph assumes $100 is invested in the Company’s stock and each of the two indexes at the closing market quotations on June 30, 2018 and that dividends, if any, are reinvested. The performances shown on the graph are not necessarily indicative of future price performance. 06/30/2018 06/30/2019 06/30/2020 06/30/2021 06/30/2022 06/30/2023 Kimball Electronics, Inc. $ 100.00 $ 88.74 $ 73.99 $ 118.80 $ 109.84 $ 150.98 Nasdaq Stock Market (U.S.) $ 100.00 $ 107.80 $ 136.89 $ 198.85 $ 152.15 $ 191.94 Russell 2000 Electronic Components subindex $ 100.00 $ 99.78 $ 96.57 $ 152.18 $ 131.25 $ 148.07 Former Peer Group Index $ 100.00 $ 89.79 $ 92.01 $ 152.93 $ 132.76 $ 242.88 23 Item 6 - [Reserved]