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Item 5. Market for Registrant’s Common Equity

2026-02-26 compared with 2025-02-27 · 48 added, 25 removed, 18 unchanged (80% of the section changed)

MARKET FOR THE REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

(a) The Company's Class A Stock is listed and traded on the NYSE (trading symbol "OPY").

(a) Market information

The Company's Class A Stock is listed and traded on the NYSE (trading symbol "OPY").

The Class B Stock is not traded on any stock exchange and, as a consequence, there is only limited trading in the Class B Stock.

The Company does not presently contemplate listing the Class B Stock in the United States on any national or regional stock exchange or on NASDAQ.

The Company paid cash dividends of $0.66 per share in 2024 to holders of Class A and Class B Stock for a total of $6.8 million.

The Company paid cash dividends of $0.60 per share in 2023 to holders of Class A and Class B Stock for a total of $6.5 million.

The Company paid cash dividends of $0.60 per share in 2022 to holders of Class A and Class B Stock for a total of $7.0 million.

The following table sets forth for the periods indicated the high and low trades for the Company's Class A Stock.

High Low High Low

First quarter $ 73.12 $ 58.40 $ 41.48 $ 37.14

Second quarter $ 66.81 $ 49.26 $ 47.93 $ 36.93

Third quarter $ 79.99 $ 64.66 $ 58.35 $ 47.47

Fourth quarter $ 77.10 $ 63.81 $ 70.25 $ 47.39

Cash dividends per share declared during the year are reflected below.

The dividends were typically declared in the same quarter in which they were paid.

(Expressed in thousands, except per share amounts) 2025 2024 2023

Per Share Total Dividend Declared Dividend

Per Share Total Dividend Declared

First quarter $ 0.18 $ 1,894 $ 0.15 $ 1,583 $ 0.15 $ 1,674

Second quarter $ 0.18 $ 1,893 $ 0.15 $ 1,550 $ 0.15 $ 1,659

Third quarter $ 0.18 $ 1,894 $ 0.18 $ 1,849 $ 0.15 $ 1,583

Fourth quarter $ 1.18 $ 12,381 $ 0.18 $ 1,860 $ 0.15 $ 1,556

Total $ 1.72 $ 18,062 $ 0.66 $ 6,842 $ 0.60 $ 6,472

On December 12, 2025, the Company announced a special cash dividend in the amount of $1.00 per share, payable on January 9, 2026 to holders of record of Class A Stock and Class B Stock as of the close of business on December 26, 2025.

The payment of dividends in the future is subject to the discretion of our Board of Directors and will depend upon general business conditions, legal and contractual restrictions on the payment of dividends and other factors that our Board of Directors may deem to be relevant.

As of December 31, 2024, there were 1,434,968 shares of Class A Stock underlying outstanding restricted share awards.

The Class A Stock underlying all vested restricted shares could be sold pursuant to Rule 144 or effective registration statements on Form S-8.

(b) The following table sets forth information about the stockholders of the Company as of February 27, 2025 as set forth in the records of the Company's transfer agent and registrar:

The following table sets forth information about the stockholders of the Company as of February 26, 2026 as set forth in the records of the Company's transfer agent and registrar:

Number of Shares Outstanding Number of Stockholders of Record

1 unchanged sentence

Class B Stock 99,665 32

On February 26, 2014, the Company adopted the Oppenheimer Holdings Inc.

2014 Incentive Plan, which expired by its terms on February 26, 2024.

On March 1, 2024, the Company adopted the Oppenheimer Holdings Inc.

2024 Incentive Plan (the "2024 OIP") pursuant to which the Compensation Committee of the Board of Directors of the Company may grant options to purchase Class A Stock, restricted Class A Stock awards and Class A Stock awards to officers, directors and key employees of the Company and its subsidiaries.

The 2024 OIP received stockholder approval at the Annual Meeting of Stockholders on May 6, 2024.

The Company's share-based compensation plans are described in note 17 to the consolidated financial statements appearing in Item 8.

(d) Share Performance Graph

The following graph shows cumulative total stockholder return over the past five year period of U.S.

$100 invested in (1) the Company's Class A Stock, (2) the Standard & Poor's 500 Index (S&P 500), and (3) the Standard & Poor's 500 Diversified Financial Index (S&P 500 / Diversified Financials – S5DIVF):

As of December 31, 2019 2020 2021 2022 2023 2024

Oppenheimer Class A Stock 100 120 174 156 153 238

S&P 500 100 116 148 119 148 183

S&P 500 / Diversified Financials 100 110 147 129 147 187

Stock Buy-Back

Our Class A Stock is owned by numerous beneficial owners, whose shares are held in the names of various banks, broker-dealers and other financial institutions.

As of December 31, 2025, there were 1,265,307 shares of Class A Stock underlying outstanding restricted share awards.

The Class A Stock underlying all vested restricted shares could be sold pursuant to Rule 144 or effective registration statements on Form S-8.

(b) Issuer Purchases of Equity Securities

On March 1, 2024, the Company's Board of Directors approved a share repurchase program that authorizes the Company to purchase up to 518,000 shares of the Company's Class A Stock, representing approximately 5.0% of its 10,357,376 then issued and outstanding shares of Class A Stock.

1 unchanged sentence

During the year ended December 31, 2025, the Company purchased and canceled an aggregate of 46,292 shares of Class A Stock for a total consideration of $3.0 million ($64.36 per share) under its share repurchase program.

As of December 31, 2024, 497,893 shares remained available to be purchased under its share repurchase program.

During the year ended December 31, 2023, the Company purchased and canceled an aggregate of 1,684,287 shares of Class A Stock for a total consideration of $60.6 million ($36.00 per share) under its share repurchase program.

As of December 31, 2025, 451,601 shares remained available to be purchased under the share repurchase program.

During the year ended December 31, 2024, the Company purchased and canceled an aggregate of 243,806 shares of Class A Stock for a total consideration of $9.6 million ($39.39 per share) under its share repurchase program.

As of December 31, 2024, 497,893 shares remained available to be purchased under its share repurchase program.

For additional information on the Company’s share repurchase program, see Note 13 to the Consolidated Financial Statements.

5 unchanged sentences

Depending on market conditions and other factors, these repurchases may be commenced or suspended from time to time without prior notice.

There were no purchases of shares of Class A Stock during the fourth quarter of 2024.

The following table provides information regarding purchases of shares of Class A Stock during the fourth quarter of 2025:

(a) (b) (c) (d)

Period 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 (1)

October 1 - 31, 2025

— $ — — 486,508

November 1 - 30, 2025

33,747 $ 66.20 33,747 452,761

December 1 - 31, 2025

1,160 $ 66.74 1,160 451,601

Q4 2025 Total

34,907 $ 66.14 34,907 451,601

(1) None of the foregoing authorizations is subject to expiration.

Information related to the Company's compensation plans under which equity securities are authorized for issuance is presented in Note 16 of the Notes to Consolidated Financial Statements and Part III, Item 12 of this Form 10-K.

(d) Share Performance Graph

The following graph shows cumulative total stockholder return over the past five year period of U.S.

$100 invested in (1) the Company's Class A Stock, (2) the Standard & Poor's 500 Index (S&P 500), and (3) the Standard & Poor's 500 Financials Index:

As of December 31, 2020 2021 2022 2023 2024 2025

Oppenheimer Class A Stock 100 152 141 140 215 246

S&P 500 100 129 105 133 166 196

S&P 500 Financials 100 135 121 135 177 203

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 5. Market for Registrant’s Common Equity