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
MARKET INFORMATION
The common shares of Park Dental Partners, Inc. are traded on the Nasdaq Capital Market under the symbol “PARK”.
APPROXIMATE NUMBER OF EQUITY SECURITY HOLDERS
As of March 20, 2026, there were approximately 101 holders of record of our common stock, and the last reported sale price of our common stock on the Nasdaq Capital Market on March 20, 2026 was $16.32. A significant number of shares of our common stock are held in either nominee name or street name brokerage accounts, and consequently, we are unable to determine the total number of beneficial owners of our stock.
DIVIDEND POLICY
For the year ended December 31, 2025, no dividends were paid to shareholders. In 2024 dividends of $6.7 million were paid to shareholders of our affiliated dental practices.
Payment of cash dividends in the future will be dependent upon operating profits, liquidity needs, capital requirements and general financial condition. We have not declared a formal dividend policy, nor do we intend to in the
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foreseeable future. Any determination to pay dividends on our Common Stock thereafter will be at the discretion of our Board of Directors based upon all relevant factors present at that time.
RECENT SALES OF UNREGISTERED SECURITIES
During the past three years, we have issued securities in the following transactions, each of which was exempt from the registration requirements of Securities Act of 1933, as amended, or the Securities Act. All of the below-referenced securities issued pursuant to the exemption from registration under Section 4(2) of the Securities Act are deemed restricted securities for the purposes of the Securities Act. In addition, the issuances in 2024 were also exempt pursuant to Rule 701.
In May 2023, shareholders voted to approve the creation of a new dental resource organization, a new type of DSO, owned by the shareholders. This reorganization event established Park Dental Partners, Inc., a Minnesota corporation and the official transition to the current legal and operating structure on October 1, 2023. Certain shareholders ownership interests in the affiliated dental practices were converted into common stock in Park Dental Partners, Inc. via a contribution and exchange agreement, whereby Park Dental Partners, Inc. received non-certain assets and liabilities in exchange for the transfer of common stock. In connection with the reorganization, a total of 5,000,000 shares of unrestricted and restricted common stock were issued in 2023.
From January 1, 2024 through December 31, 2024, a total of 275,176 and 109,849 shares of Common Stock were issued pursuant to our 2023 Restricted Stock Plan and 2023 Equity Incentive Plan, respectively. All of such shares grants were of restricted Common Stock other than 77,688 shares.
From January 1, 2025 through December 31, 2025, a total of 6,295 and 8,400 shares of Common Stock were issued pursuant to our 2023 Restricted Stock Plan and 2023 Equity Incentive Plan, respectively. All of such shares grants were of restricted common stock.
There were no underwriters employed in connection with any of the transactions described in this Item 5.
USE OF PROCEEDS
On December 2, 2025, our registration statement on Form S-1, as amended (File No. 333-290001), was declared effective by the SEC for our initial public offering. There has been no material change in the expected use of net proceeds from our IPO as described in the final prospectus filed with the SEC and used in connection with the offering.
ISSUER PURCHASES OF EQUITY SECURITIES
The Company may repurchase shares of its common stock from time to time. Shares repurchased are held as treasury shares.
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EQUITY COMPENSATION PLAN INFORMATION
The following table provides information as of December 31, 2025 with respect to shares of our common stock that may be issued under our equity compensation plans.
Plan Category
Number of securities to be issued upon exercise of outstanding options, warrants and rights
Weighted-average exercise price of outstanding options, warrants and rights
Number of securities remaining available for future issuance under equity compensation plans
Equity compensation plans approved by stockholders
-
$
-
250,000
Equity compensation plans not approved by stockholders
2,493,269
$
7.03
1,023,204
Total
2,493,269
1,273,204
ITEM 6. RESERVED
Not applicable.