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 17, 2023, the closing price of our common stock on the NASDAQ was $114.29, and we had 21 stockholders of record, including Cede & Co. as nominee of The Depository Trust Company. Stock Repurchase Program In November 2018, we announced that the Board authorized a stock repurchase program, pursuant to which we may purchase up to $50.0 million of shares of our common stock. In October 2020 and February 2022, the Board approved an increase in our stock repurchase program by an additional $300.0 million and $200.0 million, respectively. Pursuant to our stock repurchase program, we may purchase shares of our common stock through open market transactions, privately negotiated transactions or otherwise in accordance with applicable laws. 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. During the three months ended December 31, 2022, we did not repurchase any shares of our common stock. A total of 2,939,472 shares of our common stock has been repurchased since our stock repurchase program commenced. As of December 31, 2022, we may purchase up to $211.5 million of shares of common stock under our stock repurchase program. 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. 32 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, 2017 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, 2022, 2021, 2020, 2019 and 2018. 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 LGIH $100.00 $60.27 $94.16 $141.08 $205.89 $123.42 S&P 500 Index $100.00 $93.76 $120.84 $140.49 $178.27 $143.61 S&P Homebuilders Index $100.00 $73.44 $102.91 $129.82 $193.19 $135.92 ITEM 6. [RESERVED] 33 Table of Contents