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 and Common Stock Non-Voting are listed and traded on the New York Stock Exchange (NYSE). Our Common Stock and Common Stock Non-Voting trade under the ticker symbols MKC.V and MKC, respectively. We have disclosed in note 17 of the accompanying financial statements the information relating to the dividends declared and paid on our classes of common stock. The market price of our common stock at the close of business on December 31, 2021 was $95.39 per share for the Common Stock and $96.61 per share for the Common Stock Non-Voting.
The approximate number of holders of our common stock based on record ownership as of December 31, 2021 was as follows:
Title of class Approximate
number
of record
holders
Common Stock, par value $0.01 per share 2,100
Common Stock Non-Voting, par value $0.01 per share 9,400
The following table summarizes our purchases of Common Stock (CS) and Common Stock Non-Voting (CSNV) during the fourth quarter of 2021:
ISSUER PURCHASES OF EQUITY SECURITIES
Period Total number of
shares purchased Average price
paid per share Total number of shares purchased as part of publicly announced plans or programs Approximate dollar value of shares that may yet be purchased under the plans or programs
September 1, 2021 to
September 30, 2021 CS-33,191 (1)
CSNV-0
$85.75
- 33,191
- $579 million
October 1, 2021 to
October 31, 2021 CS-11,640
CSNV-1,600 $79.88
$80.96 11,640
1,600 $578 million
November 1, 2021 to
November 30, 2021 CS-18,007 (2)
CSNV-0
$85.68
- 18,007
- $576 million
Total CS-62,838
CSNV-1,600 $84.64
$80.96 62,838
1,600 $576 million
(1) On September 1, 2021 and September 29, 2021, we purchased 15,870 shares and 17,321 shares, respectively, of our CS from our U.S. defined contribution retirement plan to manage shares, based upon participant activity, in the plan's company stock fund. The price paid per share represented the closing price of the common shares on September 1, 2021 and September 29, 2021, respectively.
(2) On November 23, 2021, we purchased 18,007 shares of our CS from our U.S. defined contribution retirement plan to manage shares, based upon participant activity, in the plan's company stock fund. The price paid per share represented the closing price of the common shares on November 23, 2021.
As of November 30, 2021, approximately $576 million remained of a $600 million share repurchase authorization approved by the Board of Directors in November 2019. The timing and amount of any shares repurchased is determined by our management based on its evaluation of market conditions and other factors.
In certain circumstances, we issue shares of CS in exchange for shares of CSNV, or issue shares of CSNV in exchange for shares of CS, in either case pursuant to the exemption from registration provided by Section 3(a)(9) of the Securities Act of 1933, as amended. Typically, these exchanges are made in connection with the administration of our employee benefit plans, executive compensation programs and dividend reinvestment/direct purchase plans. The number of shares issued in an exchange is generally equal to the number of shares received in the exchange, although the number may differ slightly to the extent necessary to comply with the requirements of the Employee Retirement Income Security Act of 1974. During fiscal 2021, we issued 617,155 shares of CSNV in exchange for shares of CS and issued 14,262 shares of CS in exchange for shares of CSNV.
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ITEM 6. [RESERVED]
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