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
Our common stock is traded on the NASDAQ Global Select Market (“NASDAQ”) under the symbol PLAB. On December 15, 2022, the closing sale price of our common stock, per the NASDAQ Global Select Market, was $17.35.
Based on available information, we have 238 registered shareholders.
To date, we have not paid any cash dividends on Photronics shares, and, for the foreseeable future, we anticipate that earnings will continue to be retained for use in our business. Further, our credit agreement
limits the amount that can be paid as cash dividends on Photronics stock.
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. Share repurchases
under this authorization commenced on September 16, 2020. In 2022, we repurchased 0.2 million shares at a cost of $2.5 million (an average of $13.43 per share) and, since the program’s inception, we repurchased 5.8 million shares at a cost of
$68.3 million (an average of $11.70 per share). All shares repurchased under the program have been retired.
The table below presents share repurchase activity during the fourth quarter of 2022 as part of the repurchase program described above as well as shares repurchased in connection with the payment of withholding
taxes related to the vesting of restricted stock awards.
Total Number of
Shares Purchased
Average Price
Paid
Per share
Total Number of Shares
Purchased as Part of
Publicly Announced
Program
Dollar Value of
Shares That May
Yet Be Purchased
(in millions)
August 1, 2022 – August 28, 2022
0
$
0.00
0
$
31.7
August 29, 2022 – September 25, 2022
0
$
0.00
0
$
31.7
September 26, 2022 – October 31, 2022
508
$
16.16
0
$
31.7
Total
508
0
Securities authorized for issuance under equity compensation plans
The information regarding our equity compensation required to be disclosed by Item 201(d) of Regulation S-K is incorporated by reference from the Photronics, Inc. 2023 Definitive Proxy Statement in Item 12 of Part
III of this report. The 2023 Definitive Proxy Statement will be filed within 120 days after our fiscal year ended October 31, 2022.
ITEM 6.
[RESERVED]
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