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 listed on the Nasdaq Global Select Market, or Nasdaq, under the symbol “PLCE”. On March 18, 2022, the number of holders of record of our common stock was 38 and the number of beneficial holders of our common stock was approximately 24,000.
In March 2018, our Board of Directors authorized a $250.0 million share repurchase program (the “2018 Share Repurchase Program”). In November 2021, our Board of Directors approved another $250.0 million share repurchase program, which added to the remaining availability under the 2018 Share Repurchase Program. Under these programs, we may repurchase shares on the open market at current market prices at the time of purchase or in privately negotiated transactions. The timing and actual number of shares repurchased under a program will depend on a variety of factors, including price, corporate and regulatory requirements, and other market and business conditions. We may suspend or discontinue the programs at any time and may thereafter reinstitute purchases, all without prior announcement. As of January 29, 2022, there was $257.3 million remaining under these programs. From March 2020 through July 2021, we suspended share repurchases, other than to satisfy withholding tax requirements of equity award recipients, due to the COVID-19 pandemic.
Pursuant to our practice, including due to restrictions imposed by our insider trading policy during black-out periods, we withhold and repurchase shares of vesting stock awards and make payments to taxing authorities as required by law to satisfy the withholding tax requirements of all equity award recipients. Our payment of the withholding taxes in exchange for the surrendered shares constitutes a repurchase of our common stock. We also acquire shares of our common stock in conjunction with liabilities owed under our Deferred Compensation Plan, which are held in treasury.
The following table summarizes our share repurchases:
Fiscal Years Ended
January 29, 2022 January 30, 2021
Shares Amount Shares Amount
(in thousands)
Share repurchases related to:
Share repurchase program 1,025 $ 85,648 294 $ 15,490
Shares acquired and held in treasury 4 $ 278 6 $ 209
The following table provides a month-to-month summary of our share repurchase activity during the 13 weeks ended January 29, 2022:
Period Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Approximate Dollar Value (in thousands) of Shares that May Yet Be Purchased Under the Plans or Programs
10/31/21-11/27/21 (1)
63,613 $ 96.47 62,907 $ 291,682
11/28/21-1/1/22 (2)
224,926 82.66 224,926 273,089
1/2/22-1/29/22 218,800 72.20 218,800 257,292
Total 507,339 $ 79.88 506,633 $ 257,292
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(1) Includes 706 shares acquired as treasury stock as directed by participants in the Company’s deferred compensation plan and 158 shares withheld to cover taxes in conjunction with the vesting of stock awards.
(2) Includes 1,188 shares withheld to cover taxes in conjunction with the vesting of stock awards.
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Equity Plan Compensation Information
On May 20, 2011, our shareholders approved the 2011 Equity Incentive Plan (the “2011 Equity Plan”). The following table provides information as of January 29, 2022, about the shares of our Common Stock that may be issued under our equity compensation plans.
COLUMN (A) COLUMN (B) COLUMN (C)
Plan Category Securities to be issued upon exercise of outstanding options Weighted average exercise price of outstanding options Securities remaining available for future issuances under equity compensation plans (excluding securities reflected in Column (A))
Equity Compensation Plans
Approved by Security Holders N/A N/A 596,216
Equity Compensation Plans Not
Approved by Security Holders N/A N/A N/A
Total N/A N/A 596,216
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Performance Graph
The following graph compares the cumulative stockholder return on our Common Stock with the return of companies comprising the NASDAQ US Benchmark TR Index and the NASDAQ US Benchmark Retail TR Index. The graph and the table below assume that $100 was invested on January 27, 2017 in each of our Common Stock, the NASDAQ US Benchmark TR Index and the NASDAQ US Benchmark Retail TR Index.
FY17 FY18 FY19 FY20 FY21
The Children's Place---"PLCE" $ 155.72 $ 105.20 $ 66.76 $ 82.20 $ 78.81
NASDAQ US Benchmark TR Index 122.14 121.66 146.88 177.49 206.49
NASDAQ US Benchmark Retail TR Index 134.78 144.34 167.86 232.24 242.91
The table below sets forth the closing price of our Common Stock and the closing indices for the NASDAQ US Benchmark TR Index and the NASDAQ US Benchmark Retail TR Index on the last day of each of our last five fiscal years.
FY17 FY18 FY19 FY20 FY21
The Children's Place---"PLCE" $ 145.60 $ 92.13 $ 59.67 $ 73.47 $ 70.44
NASDAQ US Benchmark TR Index 2,344.18 2,335.10 2,819.09 3,406.63 3,963.21
NASDAQ US Benchmark Retail TR Index 3,026.13 3,240.82 3,768.85 5,214.30 5,453.85
ITEM 6. [RESERVED]
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