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.
Market Information and Dividends
Our Class A and Class B common stock is traded on the Nasdaq Global Select Market under the symbols “KELYA” and “KELYB,” respectively. The high and low selling prices for our Class A common stock and Class B common stock as quoted by the Nasdaq Global Select Market and the dividends paid on the common stock for each quarterly period in the last two fiscal years are reported in the table below. Our ability to pay dividends is subject to compliance with certain financial covenants contained in our debt facilities, as described in the Debt footnote in the notes to our consolidated financial statements.
Per share amounts (in dollars)
First
Quarter Second
Quarter Third
Quarter Fourth
Quarter Year
2025
Class A common
High $ 15.11 $ 13.34 $ 14.94 $ 13.31 $ 15.11
Low 12.66 10.80 11.38 7.98 7.98
Class B common
High $ 15.15 $ 12.75 $ 15.05 $ 13.47 $ 15.15
Low 12.87 11.04 11.81 8.48 8.48
Dividends 0.075 0.075 0.075 0.075 0.300
2024
Class A common
High $ 25.27 $ 25.02 $ 23.80 $ 22.44 $ 25.27
Low 19.74 20.84 19.00 12.68 12.68
Class B common
High $ 25.00 $ 24.53 $ 22.98 $ 21.22 $ 25.00
Low 19.80 21.30 19.70 14.00 14.00
Dividends 0.075 0.075 0.075 0.075 0.300
Stockholder Rights Plan
On January 11, 2026, our Board of Directors adopted a stockholder rights plan (the “Rights Plan”) following notification that the Terence E. Adderley Revocable Trust K had entered into a definitive agreement to sell its 92.2% holding of the Company’s voting Class B common stock. In connection with the Rights Plan, the Company declared a dividend of one right per outstanding share of Class A and Class B common stock to stockholders of record as of 5:15 p.m. Eastern Time on January 11, 2026. The rights were initially not exercisable and would have become exercisable upon the occurrence of certain events, including if any person or group acquired beneficial ownership of 75% or more of the outstanding shares of Class B common stock.
23
On January 30, 2026, the Company entered into a letter agreement with Hunt and the Board approved Amendment No. 1 to the Rights Plan. The amendment, among other things, exempted the Hunt purchase from Trust K as a triggering event under the Rights Plan and provided that the Rights Plan would expire immediately prior to the closing of that share transfer. The transfer closed on January 30, 2026, and, accordingly, the Rights Plan is no longer in effect as of that date. Additional information regarding the Rights Plan and the amendment is available in the Company’s Current Reports on Form 8-K filed January 12, 2026 and January 30, 2026.
Holders
The number of holders of record of our Class A and Class B common stock were approximately 12,900 and 500, respectively, as of January 30, 2025.
Recent Sales of Unregistered Securities
None.
Issuer Purchases of Equity Securities
During the fourth quarter of 2025, we reacquired shares of our Class A common stock as follows:
Period Total Number
of Shares
(or Units)
Purchased
Average
Price Paid
per Share
(or Unit)
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
September 29, 2025 through November 2, 2025 29,590 $ 12.40 — $ 40.0
November 3, 2025 through November 30, 2025 576,444 8.54 576,318 $ 35.1
December 1, 2025 through December 28, 2025 583,757 8.76 582,310 $ 30.0
Total 1,189,791 $ 8.74 1,158,628
On November 26, 2024, the Company's board of directors approved a share repurchase program for the Company to repurchase shares covering up to an aggregate of $50.0 million of the Company's Class A common stock. The share repurchase authorization expires on December 2, 2026. We may also reacquire shares outside of the program in connection with shares sold to cover employee tax withholdings due upon the vesting of restricted stock held by employees. Accordingly, 31,163 shares were reacquired in transactions outside the repurchase program during the Company’s fourth quarter.
24
Performance Graph
The following graph compares the cumulative total return of our Class A common stock with that of the S&P SmallCap 600 Index and the S&P 1500 Human Resources and Employment Services Index for the five years ended December 31, 2025. The graph assumes an investment of $100 on December 31, 2020 and that all dividends were reinvested.
COMPARISON OF FIVE YEAR CUMULATIVE TOTAL RETURN
Assumes Initial Investment of $100
December 31, 2020 – December 31, 2025
2020 2021 2022 2023 2024 2025
Kelly Services, Inc. $ 100.00 $ 81.95 $ 83.81 $ 108.96 $ 71.34 $ 46.20
S&P SmallCap 600 Index $ 100.00 $ 126.82 $ 106.40 $ 123.48 $ 134.22 $ 142.30
S&P 1500 Human Resources and Employment Services Index $ 100.00 $ 151.14 $ 112.90 $ 120.20 $ 142.72 $ 121.68
ITEM 6. [RESERVED]
25