Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant's Common Equity and Related Stockholder Matters of Equity Securities.
Market Information
Our Series A and Series C common stock trade on the Nasdaq Global Select Market under the symbols “LBRDA” and “LBRDK,” respectively. Our Series B common stock is quoted on the OTC Markets under the symbol “LBRDB”, but it is not actively traded. Stock price information for securities traded on the Nasdaq Global Select Market can be found on the Nasdaq’s website at www.nasdaq.com.
The following table sets forth the quarterly range of high and low sales prices of our Series B common stock for the years ended December 31, 2022 and 2021. There is no established public trading market for our Series B common stock, which is quoted on the OTC Markets. Such over-the-counter market quotations reflect inter-dealer prices without retail mark-ups, mark-downs or commissions, and may not necessarily represent actual transactions.
Liberty Broadband Corporation
Series B (LBRDB)
High
Low
2021
First quarter
$
153.11
142.85
Second quarter
$
160.40
141.15
Third quarter
$
178.00
170.00
Fourth quarter
$
173.00
151.00
2022
First quarter
$
159.61
130.58
Second quarter
$
133.46
105.76
Third quarter
$
117.75
93.00
Fourth quarter
$
89.95
73.75
Holders
As of January 31, 2023, there were 637, 77 and 2,129 holders of our Series A, Series B and Series C common stock, respectively. The foregoing numbers of record holders do not include the number of stockholders whose shares are held nominally by banks, brokerage houses or other institutions, but include each such institution as one shareholder.
Dividends
We have not paid any cash dividends on our common stock, and we have no present intention of so doing. Payment of cash dividends, if any, in the future will be determined by our board of directors in light of our earnings, financial condition and other relevant considerations.
Securities Authorized for Issuance Under Equity Compensation Plans
Information required by this item is incorporated by reference to our definitive proxy statement for our 2023 Annual Meeting of Stockholders.
Purchases of Equity Securities by the Issuer
As of December 31, 2021, the Company had $669 million available to be used for share repurchases under the Company’s share repurchase program. On January 26, 2022, a duly authorized committee of the board of directors authorized the repurchase of an additional $2.215 billion of Liberty Broadband common stock and on August 17, 2022, the board of directors authorized the repurchase of an additional $2 billion of Liberty Broadband common stock.
II-1
Table of Contents
A summary of the repurchase activity for the three months ended December 31, 2022 is as follows:
Series A Common Stock
Series C Common Stock
(c) Total Number
(d) Maximum Number
of Shares
(or Approximate Dollar
Purchased as
Value) of Shares that
(a) Total Number
(b) Average
(a) Total Number
(b) Average
Part of Publicly
May Yet Be Purchased
of Shares
Price Paid per
of Shares
Price Paid per
Announced Plans or
Under the Plans or
Period
Purchased
Share
Purchased
Share
Programs
Programs
October 1 - 31, 2022
46,960
$
79.86
1,141,979
$
76.95
1,188,939
$2,151
million
November 1 - 30, 2022
133,398
$
88.60
851,285
$
85.15
984,683
$2,067
million
December 1 - 31, 2022
214,384
$
83.54
566,237
$
83.99
780,621
$2,002
million
Total
394,742
$
84.81
2,559,501
$
81.24
2,954,243
There were no repurchases of Liberty Broadband Series B common stock or Liberty Broadband Preferred Stock during the three months ended December 31, 2022.
During the three months ended December 31, 2022, 31 shares of Liberty Broadband Series A common stock, zero shares of Liberty Broadband Series B common stock, 380 shares of Series C common stock and 150 shares of Liberty Broadband Preferred Stock were surrendered by our officers and employees to pay withholding taxes and other deductions in connection with the vesting of their restricted stock, restricted stock units and options.
Item 6. [Reserved]