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 21, 2023, the number of holders of record of our common stock was 39 and the number of beneficial holders of our common stock was approximately 22,000.
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 (the “2021 Share Repurchase Program”), which added to the then 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 28, 2023, the 2018 Share Repurchase Program was exhausted, and there was $164.4 million remaining under the 2021 Share Repurchase Program. 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 28, 2023 January 29, 2022
Shares Amount Shares Amount
(in thousands)
Share repurchases related to:
Share repurchase program 1,953 $ 92,945 1,025 $ 85,648
Shares acquired and held in treasury 6 $ 293 4 $ 278
The following table provides a month-to-month summary of our share repurchase activity during the 13 weeks ended January 28, 2023:
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
10/30/22-11/29/22 (1)
373,055 $ 37.76 371,130 $ 164,367
11/30/22-12/31/22 — — — 164,367
1/1/23-1/28/23 (2)
411 35.64 411 164,352
Total 373,466 $ 37.76 371,541 $ 164,352
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(1) Includes 1,925 shares acquired as treasury stock as directed by participants in the Company’s deferred compensation plan and 30 shares withheld to cover taxes in conjunction with the vesting of stock awards.
(2) Includes 411 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 28, 2023, 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 599,906
Equity Compensation Plans Not
Approved by Security Holders N/A N/A N/A
Total N/A N/A 599,906
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 February 2, 2018 in each of our Common Stock, the NASDAQ US Benchmark TR Index and the NASDAQ US Benchmark Retail TR Index.
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FY18 FY19 FY20 FY21 FY22
The Children's Place---"PLCE" $ 67.56 $ 42.87 $ 52.79 $ 50.61 $ 31.32
NASDAQ US Benchmark TR Index 99.61 120.26 145.32 169.07 157.30
NASDAQ US Benchmark Retail TR Index 107.09 124.54 172.31 180.23 153.59
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.
FY18 FY19 FY20 FY21 FY22
The Children's Place---"PLCE" $ 92.13 $ 59.67 $ 73.47 $ 70.44 $ 43.60
NASDAQ US Benchmark TR Index 2,335.10 2,819.09 3,406.63 3,963.21 3,687.47
NASDAQ US Benchmark Retail TR Index 3,240.82 3,768.85 5,214.30 5,453.85 4,647.98
ITEM 6. [RESERVED]
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Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.