MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS, AND ISSUER PURCHASES OF EQUITY SECURITIES
−Removed: The common stock of the Company is traded on the NASDAQ Global Select Market ("NASDAQ") under the symbol PLAB.
+Added: Our common stock is traded on the NASDAQ Global Select Market ("NASDAQ") under the symbol PLAB.
On December 11, 2020, the closing sale price of our common stock, per the NASDAQ Global Select Market, was $11.25.
2 unchanged sentences
Further, our credit agreement limits the amount that can be paid as cash dividends on Photronics stock.
−Removed: Issuer Purchases of Equity Securities
−Removed: In August 2019, the Company’s board of directors authorized the repurchase of up to $100 million of its common stock, pursuant to a repurchase plan under Rule 10b5-1 of the Securities Act of 1933 (as amended).
−Removed: The repurchase program may be suspended or discontinued at any time.
−Removed: In July 2018 and October 2018, the Company’s board of directors authorized the repurchase of up to $20 million and $25 million, respectively, of its common stock, to have been executed in open-market transactions or in accordance with a repurchase plan under Rule 10b5-1 of the Securities Act of 1933 (as amended).
+Added: In September 2020, the Company’s board of directors authorized the repurchase of up to $100 million of its common stock, pursuant to a repurchase plan under Rule 10b5-1 of the Securities Act of 1933 (as amended) (“the Securities Act”).
+Added: Share repurchases under the program commenced on September 16, 2020.
+Added: In August 2019, the Company’s board of directors authorized the repurchase of up to $100 million of its common stock, pursuant to a repurchase plan under Rule 10b5-1 of the Securities Act.
+Added: This repurchase program was terminated on March 20, 2020.
+Added: In July 2018 and October 2018, the Company’s board of directors authorized the repurchase of up to $20 million and $25 million, respectively, of its common stock, to have been executed in open-market transactions or in accordance with a repurchase plan under Rule 10b5-1 of the Securities Act.
The July 2018 repurchase program was completed in October 2018, and the October 2018 repurchase program was terminated on February 1, 2019.
−Removed: August 2019 Authorization
+Added: All of the shares purchased under the above repurchase programs in fiscal 2020 were retired prior to the end of the fiscal year.
+Added: All of the shares purchased under prior year repurchase programs were retired in fiscal year 2019.
+Added: The tables below present additional information on the above repurchase programs.
+Added: September 2020 Authorization
Total Number of
11 unchanged sentences
Fiscal year 2020 repurchases
+Added: September 14, 2020 – September 27, 2020
September 28, 2020 – October 31, 2020
+Added: August 2019 Authorization
+Added: Total Number of
+Added: Shares Purchased
+Added: (in millions)
+Added: Average Price
+Added: Total Number of
+Added: Part of Publicly
+Added: (in millions)
+Added: Dollar Value of
+Added: Shares That May
+Added: Yet Be Purchased
+Added: (in millions)
+Added: Fiscal year 2020 repurchases
+Added: November 1, 2019 – December 2, 2019
+Added: February 3, 2020 – March 1, 2020
+Added: March 2, 2020 – March 29, 2020
+Added: Fiscal year 2019 repurchases
+Added: September 23, 2019 – October 31, 2019
2018 Authorizations
31 unchanged sentences
September 23, 2018 – October 31, 2018
−Removed: * The share repurchase program was terminated on February 1, 2019, with no additional shares being purchased subsequent to January 27, 2019.
+Added: * The share repurchase program was terminated on March 20, 2020.
+Added: ** The share repurchase program was terminated on February 1, 2019.
Securities authorized for issuance under equity compensation plans
9 unchanged sentences
Effective tax rate (a)
−Removed: Net income (a), (b), (c), (d)
+Added: Net income (a), (b), (c)
Net income attributable to Photronics, Inc.
−Removed: shareholders (a), (b), (c), (d)
+Added: shareholders (a), (b), (c)
Earnings per share:
−Removed: Basic (a), (b), (c), (d)
−Removed: Diluted (a), (b), (c), (d)
+Added: Basic (a), (b), (c)
+Added: Diluted (a), (b), (c)
Weighted-average diluted number of common shares outstanding:
Net cash provided by operating activities
−Removed: Purchase of property, plant and equipment
−Removed: Purchase of treasury stock
+Added: Purchases of property, plant and equipment
+Added: Purchases of treasury stock
+Added: Common shares repurchased
BALANCE SHEET DATA
8 unchanged sentences
In 2016, includes $8.8 million gain on sale of investment in a foreign entity and $0.2 million gain on the sale of the Company’s 49.99% interest in the MP Mask joint venture.
−Removed: In 2015, includes $0.9 million of financing expenses related to the exchange of $57.5 million of 3.25% convertible senior notes.
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.