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 under the ticker symbol PLTK.
As of February 24, 2025, there were approximately 7 stockholders of record of our common stock. However, we estimate that we have a significantly greater number of stockholders because a substantial number of beneficial owners of our common stock hold their shares in street name.
Dividends
The Board of Directors of the Company declared cash dividends of $0.10 per share of our outstanding common stock payable on April 5, July 5, and October 4, 2024, and January 3, 2025 to stockholders of record as of the close of business on March 22, June 21, September 20, and December 20, 2024, respectively.
Additionally, the Board declared a cash dividend of $0.10 per share of our outstanding common stock, to be paid on April 4, 2025 to stockholders of record as of the close of business on March 21, 2025.
Future dividends are subject to market conditions and Board approval.
Issuer Purchases of Equity Securities
On May 9, 2024, we announced that our Board of Directors authorized a stock repurchase program for up to $150 million of our common stock. Under the repurchase program, repurchases can be made using a variety of methods, which may include open market purchases, privately negotiated transactions or otherwise, all in accordance with the rules of the Securities and Exchange Commission and other applicable legal requirements. The specific timing, price and size of purchases will depend on prevailing stock prices, general economic and market conditions, and other considerations. The repurchase program does not obligate us to acquire any particular amount of common stock, and the repurchase program may be suspended or discontinued at any time at the our discretion.
A summary of our common stock repurchases (in thousands, except average price paid per share) during the fourth quarter of ended December 31, 2024, are as follows:
Period (a)
Total number of shares purchased (b)
Average price paid per share (c)
Total number of shares purchased as part of publicly announced plans or programs (d)
Approximate dollar value of shares that may yet be purchased under the plans or programs
October 1 through October 31, 2024 — n/a — —
November 1 through November 30, 2024 — n/a — —
December 1 through December 31, 2024 110 $7.029 110 149,226
Total 110 110 149,226
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Stock Performance Graph
The following graph compares the cumulative total stockholder return of our common stock with the cumulative total return of the S&P 500 Index and the NASDAQ Composite Index for the period between January 14, 2021 and December 31, 2024. The graph assumes that $100 was invested in our common stock at the close of market on January 14, 2021 and that any dividends were reinvested. Stockholder returns over the indicated period should not be considered indicative of future stockholder returns.
The information furnished under the heading “ Stock Performance Graph ”, including the performance graph, shall not be deemed “filed” for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any other filing under the Securities Act of 1933, as amended or the Exchange Act, except as expressly set forth by specific reference in such a filing.
ITEM 6. RESERVED
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