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
The Company’s common stock is traded under the symbol “LCUT” on the Nasdaq Global Select Market (“Nasdaq”).
At February 28, 2023, the Company estimates that there were approximately 3,359 record holders of the Company’s common stock.
The Company is authorized to issue 100 shares of Series A Preferred stock and 2,000,000 shares of Series B Preferred stock, none of which were issued or outstanding at December 31, 2022.
For a discussion of dividends paid by the Company in 2022 and 2021, refer to Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations – Liquidity and Capital Resources – Dividends. The Board of Directors currently intends to continue paying cash dividends for the foreseeable future, although the Board of Directors may in its discretion determine to modify or eliminate such dividends at any time.
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PERFORMANCE GRAPH
The following chart compares the cumulative total return on the Company’s common stock with the Nasdaq Market Index, the Hemscott Group Index for Housewares & Accessories, the Company’s peer group, which is comprised of companies that we believe have comparable characteristics and are in the same industry or line-of-business. The comparisons in this chart are required by the SEC and are not intended to forecast or be indicative of the possible future performance of the Company’s common stock.
Date Lifetime
Brands, Inc. Hemscott
Group Index New Peer
Group Nasdaq
Market
Index
12/31/2017 (1)(2)
$ 100.00 $ 100.00 $ 100.00 $ 100.00
12/31/2018 $ 61.62 $ 62.47 $ 95.86 $ 97.16
12/31/2019 $ 43.51 $ 67.74 $ 118.22 $ 132.81
12/31/2020 $ 97.11 $ 80.47 $ 146.61 $ 192.47
12/31/2021 $ 103.19 $ 85.90 $ 185.01 $ 235.15
12/31/2022 $ 49.78 $ 53.61 $ 125.14 $ 158.65
(1) The graph assumes $100 was invested as of the close of trading on December 31, 2017 and dividends were reinvested. Measurement points are at the last trading day of each of the fiscal years ended December 31, 2018, 2019, 2020, 2021 and 2022. The material in this chart is not soliciting material, is not deemed filed with the SEC and is not incorporated by reference in any filing of the Company under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, irrespective of any general incorporation by reference language in such filing. A list of the companies included in the Company’s Hemscott Group Index will be furnished by the Company to any stockholder upon written request to the Chief Financial Officer of the Company. Peer Group comprises Acushnet Holdings Corp., Crocs, Inc., Hamilton Beach Brands Holding Co., Helen of Troy Ltd., Lands’ End, Inc., Johnson Outdoors Inc., Movado Group, Inc., Oxford Industries, Inc., The Buckle, Inc. and Tupperware Brands Corp., Unifi, Inc., Universal Electronics Inc., Vera Bradley, Inc., YETI Holdings, Inc.
(2) The graph was prepared by Zacks Investment Research, Inc. Used with permission. All rights reserved. Copyright 1980-2023. Index Data: Copyright NASDAQ OMX, Inc. Used with permission. All rights reserved.
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The table below sets forth information regarding issuer purchases of equity securities:
Period Total number of
shares
purchased (1)
Average price
paid per share Total number of
shares
purchased as
part of publicly
announced
plans or
programs (2)
Maximum
approximate
dollar value of
shares that
may yet be
purchased
under the plans
or programs
subsequent to
end of period (2)
October 1 - October 31, 2022 — $ — — $ 15,322,269
November 1 - November 30, 2022 84,946 $ 7.43 84,946 $ 14,688,468
December 1 - December 31, 2022 139,523 $ 8.13 122,506 $ 13,679,980
(1) The repurchased shares were acquired other than as part of a publicly announced plan or program. The Company repurchased these securities in connection with its Amended and Restated 2000 Long Term Incentive Plan which allows participants to use shares to satisfy certain tax liabilities arising from the vesting of restricted stock. The number above does not include unvested shares forfeited back to the Company pursuant to the terms of the Company’s stock compensation plans.
(2) On March 14, 2022, the Company announced that its Board of Directors authorized the repurchase of up to $20.0 million of the Company’s common stock, replacing the Company's previously-authorized $10.0 million share repurchase program. The repurchase authorization permits the Company to effect the repurchases from time to time through open market purchases and privately negotiated transactions. During the three months ended December 31, 2022, the Company repurchased 207,452 shares for a total cost of $1.6 million and thereafter retired the shares.
Item 6. [Reserved]
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