LGI Homes, Inc. 10-K

ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES Our common stock is listed on the NASDAQ Stock Market (NASDAQ) under the symbol “LGIH.” As of February 11, 2022, the closing price of our common stock on the NASDAQ was $120.97, and we had 20 stockholders of record, including Cede & Co. as nominee of The Depository Trust Company. Stock Repurchase Program The following table summarizes the repurchase of shares of our common stock during the three months ended December 31, 2021. Period Total Number of Shares Purchased Average Price Paid Per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (1) Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs (1) (in thousands) October 1-31, 2021 — $ — — $ 162,726 November 1-30, 2021 177,143 $ 143.89 177,143 $ 133,828 December 1-31, 2021 201,382 $ 153.07 201,382 $ 106,630 378,525 $ 148.20 378,525 (1) In November 2018, the Board authorized a stock repurchase program, pursuant to which we may purchase up to $50.0 million of shares of our common stock through open market transactions, privately negotiated transactions or otherwise in accordance with applicable laws. On October 30, 2020, the Board approved an increase in our stock repurchase program by an additional $300.0 million of shares of our common stock. The timing, amount and other terms and conditions of any repurchases of shares of our common stock under our stock repurchase program will be determined by our management at its discretion based on a variety of factors, including the market price of our common stock, corporate considerations, general market and economic conditions and legal requirements. Our stock repurchase program may be modified, discontinued or suspended at any time. Dividends We have not previously declared or paid any cash dividends on our common stock. Any future determination to pay cash dividends on our common stock will be at the discretion of the Board and will depend on our financial condition, results of operations, capital requirements, restrictions contained in any of our financing arrangements and such other factors as the Board may deem relevant. 33 Table of Contents Stock Performance Graph This chart compares the cumulative total return on our common stock with that of the Standard & Poor’s 500 Companies Stock Index (the “S&P 500 Index”) and the Standard & Poor’s Homebuilders Select Industry Index (the “S&P Homebuilders Index”). The chart assumes $100.00 was invested at the close of market on December 31, 2016 and assumes the reinvestment of any dividends. The stock price performance on the following graph is not necessarily indicative of future stock price performance. Comparison of Cumulative Total Return among LGI Homes, Inc. Common Stock, the S&P 500 Index, and the S&P Homebuilders Index for the years ended December 31, 2021, 2020, 2019, 2018 and 2017. 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 LGIH $100.00 $261.16 $157.40 $245.91 $368.43 $537.70 S&P 500 Index $100.00 $119.42 $111.97 $144.31 $167.77 $212.89 S&P Homebuilders Index $100.00 $130.65 $95.95 $134.45 $169.62 $252.40 ITEM 6. [RESERVED]