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
The Company’s Class A Common Stock is traded on the New York Stock Exchange under the symbol “KNTK”. The Company’s public warrants are quoted on the over-the-counter markets operated by OTC Markets Group under the symbol “ALTMW.” The warrants may still be exercised in accordance with their terms to purchase shares of the Company’s Class A Common Stock.
On February 28, 2023, the Class A Common Stock had a closing price of $29.75, and the warrants had a closing price of $0.001.
Holders
On February 28, 2023, there were 204 holders of record of the Company’s Class A Common Stock and nine holders of record of the Company’s Class C Common Stock.
Dividends
Holders of the Company’s common stock are entitled to receive cash dividends when declared by the Company’s Board out of legally available funds. The Board presently intends to continue the policy of paying quarterly cash dividends, however, future dividend payments will depend upon our level of earnings, capital expenditure requirements, debt obligation, financial condition and other relevant factors.
Recent Sales of Unregistered Securities
None.
Purchase of Equity Securities by the Issuer and Affiliated Purchasers
None.
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Performance Graph
The graph and table below compares the Company’s cumulative return to holders of its common stock, the NASDAQ Composite Index, the NYSE Composite Index and the Alerian US Midstream Energy Index during the period beginning on December 31, 2017 and ending on December 31, 2022. The NYSE Composite Index was added to the performance graph because the Company changed the listing of its Class A Common Stock to the NYSE from the Nasdaq in October 2022. In accordance with SEC rules, the performance graph presents both the indices used in the previous year and the newly selected index. The performance graph was prepared based on the following assumptions: (i) $100 was invested in our Class A Common Stock and in each of the indices at beginning of the period, and (ii) dividends were reinvested on the relevant payment dates. The stock price performance included in this graph is historical and not necessarily indicative of future stock price performance.
COMPARISON CUMULATIVE TOTAL RETURN (1)(2)
Among Kinetik Holdings Inc., the NYSE Composite Index, the Nasdaq Composite Index and the Alerian US Midstream Energy Index
(1) The performance graph shall not be deemed “soliciting material” or to be “filed” with the SEC for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities under that Section, and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended (the “Securities Act”) or the Exchange Act except to the extent that we specifically request it be treated as soliciting material or specifically incorporate it by reference.
(2) $100 invested on 12/31/2017 in index, including reinvestment of dividends.
December 31,
2017 2018 2019 2020 2021 2022
Kinetik Holdings, Inc. $ 100.00 $ 79.61 $ 29.45 $ 24.44 $ 34.85 $ 40.04
NYSE Composite Index 100.00 96.12 135.23 143.64 174.36 116.65
Nasdaq Composite Index 100.00 88.80 122.32 104.40 123.37 109.14
Alerian US Midstream Energy Index 100.00 80.97 79.32 50.42 65.01 79.07
ITEM 6. [RESERVED]
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