What changed in this filing

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Item 5. Market for Registrant’s Common Equity

2023-12-15 compared with 2022-12-22 · 28 added, 23 removed, 31 unchanged (62% of the section changed)

Market for Registrant’s Common Equity,

Related Stockholder Matters, and Issuer Purchases of Equity Securities

Our shares of common stock are traded on the NASDAQ Global Market under the symbol “MGYR.” The

approximate number of holders of record of Magyar Bancorp, Inc.’s common stock as of September 30, 2022 was 475.

Market for Registrant’s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity

(a) Our shares of common stock are traded on the NASDAQ Stock Market LLC under the symbol “MGYR.”

The approximate number of holders of record of Magyar Bancorp, Inc.’s common stock as of September 30, 2023 was 591.

Certain shares

2 unchanged sentences

of such shares is not known or included in the foregoing number.

The Company declared four

The Company declared five

dividends totaling $0.20 per share paid to common shareholders during the year ended September 30, 2023.

1 unchanged sentence

to continue to pay a regular cash dividend.

In determining

whether and in what amount to pay a cash

dividend, the Board will continue to take into account a number of factors, including capital requirements, our consolidated financial

condition and results of operations, tax considerations, statutory and regulatory limitations and general economic conditions.

No assurances

can be given that cash dividends will continue to be paid or that, if paid, will not be reduced.

For more information on regulatory restrictions

regarding the payment of dividends, see “Item 1- Business- Supervision and Regulation- New Jersey Banking Regulation-Dividends.”

In determining whether and in what amount to pay a cash dividend, the Board will continue

to take into account a number of factors, including capital requirements, our consolidated financial condition and results of operations,

tax considerations, statutory and regulatory limitations and general economic conditions.

No assurances can be given that cash dividends

will continue to be paid or that, if paid, will not be reduced.

For more information on regulatory restrictions regarding the payment

of dividends, see “Item 1- Business- Supervision and Regulation- New Jersey Banking Regulation-Dividends.”

Other than its employee

13 unchanged sentences

Shares of restricted stock

Not applicable.

* Reflects exercise price of stock options only.

(b) Not applicable.

Share repurchases.

Company announced on July 21, 2022 that its Board of Directors authorized a third stock repurchase program pursuant to which the Company

intends to repurchase up to 5% of its outstanding shares, or up to 354,891 shares.

The timing of the repurchases will depend on certain

factors, including but not limited to, market conditions and prices, the Company's liquidity requirements and alternative uses of capital.

Any repurchased shares will be held as treasury stock and will be available for general corporate purposes.

Under the third stock repurchase

program, the company repurchased 352,697 shares through September 30, 2022, increasing its total treasury shares to 465,693

at September 30, 2022.

On December 8, 2022, the

Company announced the completion of its third stock repurchase program, under which 354,891 shares had been repurchased at an average

price of $12.90.

The Company announced its fourth authorization of an additional stock repurchase plan pursuant to which the Company intends

to repurchase up to an additional 5% of its outstanding shares, or up to 337,146 shares, under which 100,830 shares had been repurchased

at an average price of $11.80 at September 30, 2023.

Under this stock repurchase program, 236,316 shares of the 337,146 shares authorized

remained available for repurchase as of September 30, 2023.

The Company’s intended use of the repurchased shares is for general

corporate purposes.

The Company held treasury stock shares totaling 423,641 at September 30, 2023.

The timing of the repurchases will

depend on certain factors, including but not limited to, market conditions and prices, the Company’s liquidity requirements and

alternative uses of capital.

The following table reports

information regarding repurchases of our common stock during the year ended September 30, 2022.

information regarding repurchases of our common stock during the quarter ended September 30, 2023.

Remaining Number

6 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 5. Market for Registrant’s Common Equity