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 common units (Units), Class A Common Stock, and warrants were each traded on the Nasdaq under the symbols “KAACU,” “KAAC,” and “KAACW,” respectively, prior to the closing of the Altus Combination. In connection with the closing of the Altus Combination, the Units ceased trading, and the Class A Common Stock and warrants began trading on the Nasdaq under the symbols “ALTM” and “ALTMW,” respectively. The Company’s Units commenced public trading on March 30, 2017, and the Class A Common Stock and warrants commenced public trading on April 27, 2017.
The Company’s warrants ceased trading on the Nasdaq at the opening of business on December 20, 2018 and since that time have been 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. The table below sets forth the high and low prices of the warrants, as reported on the OTC Marketplace, for each of the quarterly periods presented. Such quotations reflect inter-dealer prices, without retail mark-up, mark-down, or commission and may not necessarily represent actual transactions.
Year Ended December 31,
2021 2020
High Low High Low
First Quarter $ 0.10 $ 0.03 $ 0.15 $ 0.01
Second Quarter $ 0.07 $ 0.03 $ 0.04 $ —
Third Quarter $ 0.06 $ 0.02 $ 0.05 $ 0.01
Fourth Quarter $ 0.07 $ 0.01 $ 0.12 $ 0.01
On January 31, 2022, the Class A Common Stock had a closing price o f $63.03, and the warrants had a closing price of $0.01.
Holders
On January 31, 2022, there were 121 ho lders of record of the Company’s Class A Common Stock and there was no Class C Common Stock outstanding.
Dividends
Altus has paid cash dividends on its Class A Common Stock each quarter in 2021 at a rate of $1.50 per share. When, and if, declared by the Company’s board of directors, future dividend payments will depend upon our level of earnings, financial requirements, and other relevant factors.
Securities Authorized for Issuance Under Equity Compensation Plans
Information about the Company’s equity compensation plans is incorporated herein by reference to Altus’ definitive proxy statement for its 2022 Annual Meeting of Stockholders.
Recent Sales of Unregistered Securities
None.
Purchase of Equity Securities by the Issuer and Affiliated Purchasers
None.
25
Performance Graph
The following stock price performance graph is intended to allow review of stockholder returns, expressed in terms of the performance of the Company’s common stock relative to both a broad equity market index and a published industry index. The information is included for historical comparative purposes only and should not be considered indicative of future stock performance. The graph compares the yearly percentage change in the cumulative total stockholder return on the Company’s Class A Common Stock with the cumulative total return of both the Nasdaq Composite Index and the Alerian US Midstream Energy Index from April 30, 2017 through December 31, 2021. The stock performance graph and related information shall not be deemed “soliciting material” or to be “filed” with the SEC, nor shall information be incorporated by reference into any future filing under the Securities Act or Exchange Act, each as amended, except to the extent that the Company specifically incorporates it by reference into such filing.
COMPARISON OF 56 MONTH CUMULATIVE TOTAL RETURN*
Among Altus Midstream Company, the Nasdaq Composite Index,
and the Alerian US Midstream Energy Index
* $100 invested on 5/2/17 in stock or 4/30/17 in index, including reinvestment of dividends.
Fiscal year ending December 31.
5/2/2017 2017 2018 2019 2020 2021
Altus Midstream Company $ 100.00 $ 100.10 $ 79.69 $ 29.48 $ 24.46 $ 34.82
Nasdaq Composite Index 100.00 114.59 110.42 152.76 221.37 270.47
Alerian US Midstream Energy Index 100.00 93.29 83.11 96.05 72.08 104.52
ITEM 6. SELECTED FINANCIAL DATA
Omitted.
26