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
Our common stock is listed on the New York Stock Exchange under the ticker symbol “LW.” At July 17, 2026, there were 8,809 holders of record of our common stock. The majority of holders of Lamb Weston common stock are “street name” or beneficial holders, whose shares of record are held by banks, brokers, and other financial institutions.
Dividends
Our Board intends to continue to consider declaring and paying dividends on Lamb Weston common stock based on our financial condition and results of operations, as well as applicable covenants under our debt agreements. However, our Board has no obligation under Delaware law or our amended and restated certificate of incorporation to declare or pay dividends, and dividends on Lamb Weston common stock are limited to legally available funds.
Purchases of Equity Securities by the Issuer
The following table presents information related to total shares purchased during the periods presented below:
Period Total Number
of Shares (or
Units)
Purchased (a) Average
Price Paid
Per Share
(or Unit) Total Number of
Shares (or Units)
Purchased as Part of
Publicly Announced
Plans or Programs (b) Approximate Dollar
Value of Maximum
Number of Shares that
May Yet be Purchased
Under Plans or Programs
(in millions) (b)
February 23, 2026 through March 22, 2026 710,503 $ 41.80 709,430 $ 278
March 23, 2026 through April 19, 2026 836,899 $ 40.42 830,156 $ 245
April 20, 2026 through May 31, 2026 2,506 $ 43.16 0 $ 245
Total 1,549,908
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(a) Represents repurchased shares of our common stock under our publicly announced share repurchase program, which were repurchased at a weighted average price of $41.04 per share, and shares withheld from employees to cover income and payroll taxes on equity awards that vested during the period.
(b) On December 19, 2024, we announced that our Board increased our total share repurchase authorization under our existing $500 million share repurchase program (originally announced in 2018 and amended in 2021) by $250 million to an aggregate amount of $750 million. As of May 31, 2026, approximately $245 million remained authorized and available for repurchase under the program. The program has no expiration date. Repurchases under our share repurchase program may be made at our discretion from time to time on the open market, subject to applicable laws, including pursuant to a repurchase plan administered in accordance with Rule 10b5-1 under the Exchange Act, or through privately negotiated transactions or accelerated share repurchases or other structured transactions.
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Performance Graph
Our fiscal year 2025 Annual Report on Form 10-K included a comparison of the cumulative total return on our common stock with the Standard & Poor’s (“S&P”) 500 Index, the S&P 400 Packaged Foods Index, which we considered to be our peer group, and the S&P 500 Packaged Foods Index for the five years ended May 25, 2025. In March 2026, there were changes to the indices that Lamb Weston is included in, and, as a result, we believe that the S&P 600 Index is a more appropriate index than the S&P 500 for comparison of our stock performance. In addition, we believe the S&P 600 Packaged Foods Index is a more appropriate peer group than the S&P 400 Packaged Foods Index. Under SEC rules, if a company discloses a different index from that used in the immediately preceding fiscal year, the company’s stock performance must be compared with both the newly disclosed index and the index used in the immediately preceding year.
Accordingly, the following graph and table compare the cumulative total return on our common stock with the cumulative total return of the S&P 600 Index, the S&P 500 Index, the S&P 600 Packaged Foods Index, the S&P 500 Packaged Foods Index, and the S&P 400 Packaged Foods Index, for the five years ended May 31, 2026 . The graph and table assume that $100 was invested in our common stock, the S&P 600 Index, S&P 500 Index, the S&P 600 Packaged Foods Index, the S&P 500 Packaged Foods Index, and the S&P 400 Packaged Foods Index on May 28, 2021, and that all dividends were reinvested . The cumulative total returns shown below are based on the last trading day in Lamb Weston’s fiscal year.
May 28,
2021 May 27,
2022 May 26,
2023 May 24,
2024 May 23,
2025 May 29,
2026
Lamb Weston $ 100 $ 84 $ 136 $ 113 $ 65 $ 58
S&P 600 Index $ 100 $ 92 $ 86 $ 101 $ 98 $ 133
S&P 500 Index $ 100 $ 100 $ 103 $ 132 $ 146 $ 194
S&P 600 Packaged Foods Index $ 100 $ 96 $ 100 $ 102 $ 96 $ 70
S&P 500 Packaged Foods Index $ 100 $ 105 $ 116 $ 104 $ 95 $ 88
S&P 400 Packaged Foods Index $ 100 $ 96 $ 99 $ 107 $ 102 $ 69
The above performance graph and other information furnished under this Part II, Item 5 of this Form 10-K shall not be deemed to be “soliciting material” or to be “filed” with the SEC or subject to Regulation 14A or 14C, or to the provisions of Section 18, of the Exchange Act.
ITEM 6. RESERVED
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