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 for our Common Stock
Our common stock, no par value per share, is quoted on the Nasdaq Global Select Market under the symbol “LINC”.
On March 3, 2021, the last reported sale price of our common stock on the Nasdaq Global Select Market was $5.94 per share. As of March 3, 2021, based on the information provided by Continental Stock Transfer & Trust
Company, there were 63 shareholders of record of our common stock.
Dividend Policy
The Company has not declared or paid any cash dividends on its common stock since the Company’s Board of Directors discontinued our quarterly cash dividend program in February 2015. The Company has no current intentions to resume the payment of
cash dividends on its common stock in the foreseeable future.
However, during the third quarter of 2020, the Company paid a $1.1 million cash dividend to its Series A preferred shareholders pursuant to the Securities Purchase Agreement entered into on November 14, 2019 and the
Company’s Amended and Restated Certificate of Incorporation. This dividend covered the period from November 14, 2019 through September 30, 2020. During the fourth quarter of 2020, the Company paid a $0.3 million cash dividend to its Series A
preferred shareholders pursuant to the Securities Purchase Agreement and the Company’s Amended and Restated Certificate of Incorporation. The Company has the option to pay the preferred stock dividends in cash or through an increase in the stated
value of the preferred shares. The Company elected to pay the dividends in cash given its strengthened liquidity position and the significantly higher stock price over the conversion price at the time of the payment.
Share Repurchases
The Company did not repurchase any shares of our common stock during the fourth quarter of the fiscal year ended December 31, 2020.
Equity Compensation Plan Information
We have various equity compensation plans under which equity securities are authorized for issuance. Information regarding these securities as of December 31, 2020 is as follows:
Plan Category
Number of
Securities to be
issued upon
exercise of
outstanding
options, warrants
and rights
Weighted-
average
exercise price
of outstanding
options,
warrants and
rights
Number of
securities
remaining
available for
future issuance
under equity
compensation
plans (excluding
securities
reflected in
column (a))
(a)
Equity compensation plans approved by security holders
81,000
$
7.79
2,131,922
Equity compensation plans not approved by security holders
-
-
-
Total
81,000
$
7.79
2,131,922
ITEM 6.
SELECTED FINANCIAL DATA
Not Required.
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Index