Meridian Corp 10-K

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities Shares of our common stock trade on the NASDAQ Global Select Market under the symbol "MRBK". All share and per share amounts have been adjusted to reflect the two-for-one stock split effective February 28, 2023. As of March 10, 2023, there were approximately 1,655 registered shareholders of the Corporation's common stock. Certain shares are held in “nominee” or “street” name and accordingly, the number of beneficial owners of such shares is not known or included in the foregoing number. Share Repurchases The following table presents the shares repurchased by the Corporation during the fourth quarter of 2022: 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 that May Yet Be Purchased Under the Plan or Programs (1) Dollars in thousands except share data October 1, 2022 to October 31, 2022 86,602 $ 15.43 86,602 November 1, 2022 to November 30, 2022 126,794 15.66 126,794 December 1, 2022 to December 31, 2022 33,486 15.21 33,486 Total 246,882 $ 15.52 $ 4,652 (1) On August 30, 2021, the Corporation announced a stock repurchase plan pursuant to which the Corporation may repurchase up to $20 million of the company’s outstanding common stock, par value $1.00 per share. Stock is purchased under the plan from time to time in the open market or through privately negotiated transactions, or otherwise, at the discretion of management of the company in accordance with legal requirements . Dividend Policy In 2020 the Corporation commenced quarterly cash dividends on its common stock. Future dividend payments will depend upon maintenance of a strong financial condition, future earnings and capital and regulatory requirements. Also, the Corporation and the Bank are subject to restrictions on the amount of dividends that may be paid without approval of banking regulatory authorities. During 2022, and 2021, the Board of Directors declared cash dividends as follows: Date Declared Date of Record Date Paid Quarterly Dividend $ Special Dividend $ January 28, 2021 February 8, 2021 February 22, 2021 0.06 — February 16, 2021 March 1, 2021 March 15, 2021 — 0.50 April 22, 2021 May 10, 2021 May 17, 2021 0.06 — July 22, 2021 August 9, 2021 August 16, 2021 0.06 — October 28, 2021 November 15, 2021 November 22, 2021 0.10 — January 27, 2022 February 14, 2022 February 21, 2022 — 0.50 April 28, 2022 May 16, 2022 May 23, 2022 0.10 — July 28, 2022 August 15, 2022 August 22, 2022 0.10 — October 27, 2022 November 14, 2022 November 21, 2022 0.10 — Item 6. Reserved