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 for Ordinary Shares
Our ordinary shares are listed on the Nasdaq Global Select Market under the trading symbol “SGH.”
Holders of Record
As of October 3, 2022 there were 53 registered holders of record of our ordinary shares (not including beneficial holders of our ordinary shares held in street name).
Dividends
On January 3, 2022, our Board of Directors declared a share dividend of one ordinary share, $0.03 par value per share, for every one outstanding ordinary share owned to shareholders of record as of January 25, 2022. The dividend was paid on February 1, 2022.
We have not paid any cash dividends on our ordinary shares, and we do not currently intend to pay any cash dividends on our ordinary shares in the foreseeable future. We currently intend to retain all available funds and future earnings to support operations and to finance the growth and development of our business. Any future determination to pay dividends will be made at the discretion of our Board of Directors subject to applicable laws and will depend on, among other factors, our results of operations, financial condition, contractual restrictions and capital requirements.
Issuer Purchases of Equity Securities
Common Stock Repurchase Authorization
On April 4, 2022, our Board of Directors approved a $75 million share repurchase authorization, under which the Company may repurchase its outstanding ordinary shares from time to time through open market purchases, privately-negotiated transactions or otherwise. The share repurchase authorization has no expiration date but may be suspended or terminated by the Board of Directors at any time.
The following table summarizes repurchases of our ordinary shares during our fourth quarter of 2022:
Period Total number of shares (or units) purchased Average price paid per share (or unit) Total number of shares (or units) purchased as part of publicly announced plans or programs Maximum number (or approximate dollar value) of shares (or units) that may yet be purchased under the plans or programs
May 28, 2022 through June 24, 2022 569,186 $ 20.65 569,186
June 25, 2022 through July 22, 2022 1,615,792 $ 17.35 1,615,792
July 23, 2022 through August 26, 2022 — $ — —
2,184,978 $ 18.21 2,184,978 $ 25,000,000
Ordinary shares withheld as payment of withholding taxes and exercise prices in connection with the vesting or exercise of equity awards are not required to be disclosed under Item 703 of Regulation S-K and accordingly are excluded from the amounts in the table above.
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Other Share Repurchases
On January 7, 2021, we agreed to repurchase an aggregate of 1,100,000 of our ordinary shares, $0.03 par value per share, from Silver Lake Partners III Cayman (AIV III), L.P., Silver Lake Technology Investors III Cayman, L.P., Silver Lake Sumeru Fund Cayman, L.P. and Silver Lake Technology Investors Sumeru Cayman, L.P. at a purchase price of $40.30 per share for aggregate consideration of $44.3 million, in a privately negotiated transaction. The transaction closed on January 15, 2021.
Share Performance Graph
This performance graph shall not be deemed “soliciting material” or to be “filed” with the SEC for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities under that Section, and shall not be deemed to be incorporated by reference into any of our filings under the Securities Act, except as shall be expressly set forth by specific reference in such filing.
The following graph illustrates a comparison of cumulative total returns for our ordinary shares, the Nasdaq Composite Index and the Russell 2000 Inde x from August 31, 2017 through August 31, 2022. We operate on a 52 or 53 week fiscal year, which ends on the last Friday in August. As a result, the last day of our fiscal year varies. For consistent presentation and comparison to the industry indices shown herein, we have calculated our share performance graph as of August 31 for each year.
Note: Management cautions that the share price performance information shown in the graph above may not be indicative of current share price levels or future share price performance.
The share performance graph assumes $100 was invested on August 31, 2017. Any dividends paid during the period presented were assumed to be reinvested. The performance was plotted using the following data:
Aug 31,
2017
Aug 31,
2018
Aug 31,
2019
Aug 31,
2020
Aug 31,
2021
Aug 31,
2022
SMART Global Holdings, Inc. $ 100 $ 166 $ 143 $ 127 $ 244 $ 185
Nasdaq Composite Index 100 127 127 189 247 192
Russell 2000 Index 100 125 109 116 170 140
Item 6. [Reserved]
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