Ollie's Bargain Outlet Holdings, Inc. 10-K

Item 3. Legal Proceedings From time to time we are involved in claims and legal actions that arise in the ordinary course of our business. We cannot predict the outcome of any litigation or suit to which we are a party. However, we do not believe that an unfavorable decision of any of the current claims or legal actions against us, individually or in the aggregate, will have a material adverse effect on our financial position, results of operations, liquidity or capital resources. Item 4. Mine Safety Disclosures Not applicable. 36 Index PART II Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities Our common stock is traded on NASDAQ under the symbol “OLLI.” The following tables set forth for the periods indicated the high and low sales prices of our common stock on NASDAQ. 2021 High Low First Quarter $ 98.58 $ 80.64 Second Quarter $ 95.43 $ 75.75 Third Quarter $ 94.68 $ 57.86 Fourth Quarter $ 75.27 $ 42.40 2020 High Low First Quarter $ 72.77 $ 28.83 Second Quarter $ 110.17 $ 64.55 Third Quarter $ 112.58 $ 83.08 Fourth Quarter $ 123.52 $ 76.74 As of January 29, 2022, we had approximately 400 stockholders of record. Stock Performance Graph The graph set forth below compares the cumulative stockholder return on our common stock between January 28, 2017 and January 29, 2022 to the cumulative return of (i) the NASDAQ Composite Total Return index and (ii) the NASDAQ US Benchmark Retail Index over the same period. This graph assumes an initial investment of $100 on January 28, 2017 in our common stock, the NASDAQ Composite Total Return index and the NASDAQ US Benchmark Retail Index and assumes the reinvestment of dividends, if any. Such returns are based on historical results and are not intended to suggest future performance. 37 Index 1/28/17 2/3/18 2/2/19 2/1/20 1/30/21 1/29/22 Ollie’s Bargain Outlet Holdings, Inc. $ 100.00 183.13 270.36 180.72 322.76 153.08 NASDAQ Composite Total Return Index $ 100.00 128.66 135.26 161.67 283.88 171.84 NASDAQ US Benchmark Retail Index $ 100.00 133.02 137.90 162.10 222.50 231.26 Dividends Our common stock began trading on July 16, 2015. Since then, we have not declared any cash dividends nor do we expect to in the foreseeable future as we intend to retain our earnings to finance the development and growth of our business and operations. The Credit Facility contains a number of restrictive covenants that, among other things and subject to certain exceptions, restrict Ollie’s Bargain Outlet, Inc.’s and Ollie’s Holdings, Inc.’s (together the “Borrowers”) ability and the ability of their subsidiaries to pay dividends on our capital stock or redeem, repurchase or retire our capital stock. Securities Authorized for Issuance under Equity Compensation Plans The information required by this Item will be set forth in the Proxy Statement and is incorporated herein by reference. 38 Index Information on Share Repurchases Information regarding shares of common stock the Company repurchased during the thirteen weeks ended January 29, 2022 is as follows: Period Total number of shares repurchased (1) Average price paid per share (2) Total number of shares purchased as part of publicly announced plans or programs (3) Approximate dollar value of shares that may yet be purchased under the plans or programs (3) October 31, 2021 through November 27, 2021 — — — $ 32,562 November 28, 2021 through January 1, 2022 — — — $ 200,032,562 January 2, 2022 through January 29, 2022 434,474 $ 46.04 434,474 $ 180,028,248 Total 434,474 434,474 (1) Consists of shares repurchased under the publicly announced share repurchase program. (2) Includes commissions for the shares repurchased under the share repurchase program. (3) On March 26, 2019, the Board of Directors of the Company authorized the repurchase of up to $100.0 million of shares of the Company’s common stock. This initial tranche expired on March 26, 2021. The Board authorized the repurchase of another $100.0 million of the Company’s common stock on December 15, 2020 and a $100.0 million increase on March 16, 2021, resulting in $200.0 million approved for share repurchases through January 13, 2023. On November 30, 2021, the Board authorized an additional $200.0 million to repurchase stock pursuant to the Company’s share repurchase program, expiring on December 15, 2023. Shares to be repurchased are subject to the same considerations regarding timing and amount of repurchases as the initial authorization. As of January 29, 2022, the Company had approximately $180.0 million remaining under its share repurchase program. For further discussion on the share repurchase program, see “Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations, Liquidity and Capital Resources, Share Repurchase Program.” 39 Index Item 6. [Reserved]