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 currently trades on the New York Stock Exchange under the symbol “NGS”. As of December 31, 2021 as reflected by our transfer agent records, we had 15 record holders of our common stock. This number does not include any beneficial owners for whom shares of common stock may be held in “nominee” or “street” name. On March 14, 2022, the last reported sale price of our common stock as reported by the New York Stock Exchange was $11.82 per share.
Dividends
To date, we have not declared or paid any dividends on our common stock. We currently do not anticipate paying a cash dividend on our common stock. Although we intend to retain our earnings, if any, to finance the growth of our business, our Board of Directors will have the discretion to declare and pay dividends in the future. Payment of dividends in the future will depend upon our earnings, capital requirements, and other factors, which our Board of Directors may deem relevant. Our credit agreement also contains restrictions on our paying dividends under certain circumstances.
Equity Compensation Plans
The following table summarizes certain information regarding our equity compensation plans as of December 31, 2021:
Plan Category
(a)
Number of securities to vest or be issued upon exercise of outstanding options
(b)
Weighted-average
issuance or exercise price of
outstanding options
(c)
Number of securities remaining available for future issuance under equity compensation plans
(excluding securities reflected in column (a))
Equity compensation plans approved by security holders:
Stock Option Plan 200,834 (1) $ 21.17 345,003
2019 Equity Incentive Plan 276,319 $ 9.67 47,135
Total 477,153 392,138
(1) Total number of shares to be issued upon exercise of options granted to employees, officers, and directors under our 1998 Stock Option Plan.
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Sale of Unregistered Securities
We made no sales of unregistered securities during the year ended December 31, 2021. The following table summarizes our purchases of shares of common stock during the three months ended December 31, 2021.
ISSUER PURCHASES OF EQUITY SECURITIES 1,2
(a) (b) (c) (d)
For the Three Months Ended December 31, 2021
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 Plans or Programs 3
Common Stock
(dollars in thousands)
October 1, 2021 to October 31, 2021 101,481 $11.57 101,481 $8,908
November 1, 2021 to November 30, 2021 110,243 $11.53 110,243 $7,637
December 1, 2021 to December 31, 2021 92,950 $10.51 92,950 $6,660
1 The table summarizes repurchases of (and remaining authority to repurchase) shares of our Common Stock.
2 The figures in the table reflect transactions according to the settlement dates. For purposes of our consolidated financial statements included in this Form 10-K, the impact of these repurchases is recorded according to the settlement dates.
3 On September 30, 2021, our Board of Directors authorized the repurchase of up to $10.0 million of our outstanding Common Stock in the open market (pursuant to Rule 10b5-1 plans or otherwise), block trades or privately negotiated transactions. This repurchase program is set to expire on September 30, 2022. The amounts in this column indicate the remaining amounts that may yet be expended to repurchase shares under these authorizations.
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ITEM 6. SELECTED FINANCIAL DATA
Not applicable.
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