Item 5. Market for Registrant’s Common Equity
ITEM 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Market Information. Our common stock trades on the NASDAQ Global Select Market under the symbol “KVHI.”
The following table provides, for the periods indicated, the high and low sale prices for our common stock as reported on the NASDAQ Global Select Market.
High Low
Year Ended December 31, 2020:
First quarter $ 11.36 $ 6.36
Second quarter 10.16 7.78
Third quarter 9.76 7.38
Fourth quarter 11.86 8.52
Year Ended December 31, 2019:
First quarter $ 11.89 $ 10.01
Second quarter 10.92 9.09
Third quarter 11.10 8.64
Fourth quarter 11.64 9.37
Stockholders. As of February 22, 2021, we had 68 holders of record of our common stock. This number does not include stockholders for whom shares were held by a nominee or in “street” name.
Dividends . We have never declared or paid cash dividends on our capital stock, and we have no plan to pay any cash dividends in the foreseeable future. We currently intend to retain any future earnings to finance our operations and future growth.
Issuer Purchases of Equity Securities. On October 4, 2019, our Board of Directors authorized a share repurchase program pursuant to which we were authorized to purchase up to one million shares of our common stock. The program expired on October 4, 2020. Under the repurchase program, we, at management’s discretion, were previously authorized to repurchase shares on the open market from time to time, in privately negotiated transactions or block transactions, or through an accelerated repurchase agreement.
In January 2020, we repurchased 35,256 shares of common stock in open market transactions at a cost of approximately $0.4 million. The total amount we repurchased under the October 4, 2019 repurchase program was 150,272 shares of common stock at an approximate cost of $1.7 million. Except as noted above, there were no other repurchase programs outstanding during 2020.
During the fourth quarter of 2020, we did not repurchase any shares under the October 4, 2019 repurchase program, and no vested restricted shares were surrendered in satisfaction of tax withholding obligations.
ITEM 6. Removed and reserved.
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