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
Market Information
Our common stock is listed on the New York Stock Exchange (“NYSE”) under the ticker symbol “SEAS.” As of February 22, 2022, there were approximately 208 holders of record of our outstanding common stock. This does not include persons who hold our common stock in nominee or “street name” accounts through brokers or banks.
Dividends
We currently do not pay a dividend.
Stock Price Performance
This performance graph shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or incorporated by reference into any filing of SeaWorld under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
The following graph shows a comparison of the five-year cumulative total stockholder return for our common stock, the Standard & Poor’s (“S&P”) 500 Index, the S&P Midcap 400 Index and the S&P 400 Movies & Entertainment Index. The graph assumes that $100 was invested in our common stock and in each index at the market close on December 31, 2016 and assumes that all dividends, if any, were reinvested. The stock price performance of the following graph is not necessarily indicative of future stock price performance.
12/31/2016
12/31/2017
12/31/2018
12/31/2019
12/31/2020
12/31/2021
SeaWorld Entertainment, Inc.
$
100.00
$
71.69
$
116.69
$
167.51
$
166.88
$
342.63
S&P 500 Index - Total Return
$
100.00
$
121.83
$
116.49
$
153.17
$
181.35
$
233.41
S&P Midcap 400 Index
$
100.00
$
116.24
$
103.36
$
130.44
$
148.26
$
184.97
S&P 400 Movies & Entertainment Index
$
100.00
$
124.74
$
137.80
$
161.88
$
101.70
$
100.97
40
Note: Data complete through last fiscal year. Prepared by Zacks Investment Research, Inc. Used with permission. All rights reserved. Copyright 1980-2022.
Index Data: Copyright Standard and Poor’s Inc. Used with permission. All rights reserved.
Unregistered Sales of Equity Securities
There were no unregistered sales of equity securities by us during the year ended December 31, 2021.
Purchases of Equity Securities by the Issuer
The following table sets forth information with respect to shares of our common stock purchased by us during the periods indicated:
Period Beginning
Period Ended
Total Number
of Shares
Purchased ( 1)(2)
Average
Price Paid
per Share
Total Number of
Shares
Purchased as
Part of Publicly
Announced Plans
or Programs ( 2)
Maximum Number
(or Approximate
Dollar Value) of
Shares that May
Yet Be Purchased
Under the Plans
or Programs ( 2)
October 1, 2021
October 31, 2021
480,774
$
58.55
457,327
$
128,108,265
November 1, 2021
November 30, 2021
722,207
$
63.17
715,724
$
82,915,392
December 1, 2021
December 31, 2021
985,745
$
61.95
985,745
$
21,845,063
Total
2,188,726
2,158,796
$
21,845,063
(1)
Except for the 2,158,796 shares of our common stock repurchased as described in footnote (2) below, all other purchases were made pursuant to our Omnibus Incentive Plan, under which participants may satisfy tax withholding obligations incurred upon the vesting of restricted stock by requesting that we withhold shares with a value equal to the amount of the withholding obligation.
(2)
Our Board of Directors previously authorized a share repurchase program of up to $250.0 million of our common stock (the “Share Repurchase Program”). Under the Share Repurchase Program, we are authorized to repurchase shares through open market purchases, privately-negotiated transactions or otherwise in accordance with applicable federal securities laws, including through Rule 10b5-1 trading plans and under Rule 10b-18 of the Exchange Act. Pursuant to the Share Repurchase Program, during the quarter ended December 31, 2021, we repurchased a total of 2,158,796 shares of common stock at a total cost of approximately $133.0 million, leaving approximately $21.8 million available under the Share Repurchase Program as of December 31, 2021. All of the common stock is held as treasury shares as of December 31, 2021. The number of shares to be purchased and the timing of purchases will be based on our trading windows and available liquidity, general business and market conditions and other factors, including legal requirements and alternative opportunities. See Note 20–Stockholders’ (Deficit) Equity in the notes to the consolidated financial statements included elsewhere in this Annual Report on Form 10-K for further information on the Share Repurchase Program.
Item 6. [Reserved]
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