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
(a)
Market Information
The common stock
of New Peoples is quoted on the OTC Market’s Pink Open Market under the symbol “NWPP.” Computershare Investor Services
is the stock transfer agent for New Peoples Bankshares, Inc. The volume of trading of shares of common stock is very limited. Trades
in our common stock occur sporadically on a local basis and typically in small volumes. Over-the-Counter market quotations reflect inter-dealer
prices without retail mark up, mark down or commissions and may not necessarily represent actual transactions.
The most recent sales
price of which management is aware was $3.56 per share on March 19, 2026.
(b)
Holders
On March 19, 2026,
there were approximately 3,695 shareholders of record.
(c) Dividends
Any declaration of
dividends in the future will depend on our earnings, capital requirements, growth strategies, and compliance with regulatory mandates,
principally at the Bank level, since New Peoples’s primary source of income is dividends paid by the Bank. New Peoples paid a dividend
of $0.08 per share in 2025. On February 23, 2026, New Peoples declared a dividend of $0.09 per share, payable March 31, 2026.
We are subject to
certain dividend restrictions and capital requirements imposed by the Federal Reserve Bank as well as Virginia statutes and regulations.
See Note 17, Dividend Limitations, and Note 23, Capital, to the consolidated financial statements contained in Item 8 of this Form 10-K.
(d) Stock
Repurchases
New Peoples initiated
a stock repurchase program in 2022 that authorizes the repurchase of up to 500,000 of New Peoples’s common shares. Repurchases
may be made through open market purchases or in privately negotiated transactions. Shares repurchased will be returned to the status
of authorized and unissued shares of common stock. The actual means and timing of any purchases, number of shares and prices or range
of prices will be determined by New Peoples.
Shares of New Peoples’s
common stock were repurchased during the three months ended December 31, 2025, as detailed below. Under the terms of the stock repurchase
program, New Peoples has the remaining authority to repurchase up to 144,927 shares of common stock. On March 16, 2026, the Board of
Directors approved an extension of the repurchase program through March 31, 2027.
19
The following table provides information
regarding repurchases of common stock for the three months ended December 31, 2025.
Period
Beginning on First Day of Month Ended
Total
Number of Shares Purchased
Average
Price Paid per Share
Total
Number of Shares Purchased as Part of Publicly Announced Plans or Programs
Maximum
Number of Shares That May Yet Be Purchased Under the Plans or Programs
October 31, 2025
-
$ -
-
155,107
November 30, 2025
7,798
$ 3.14
7,798
147,309
December 31, 2025
2,382
$ 3.37
2,382
144,927
Total
as of December 31, 2025
10,180
$ 3.19
10,180
144,927
Item 6. [Reserved]
Not applicable.
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.