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 Class A common stock is traded on the Nasdaq Global Select Market ("Nasdaq") under the symbol "PTLO."
Our Class B common stock is neither listed nor traded on any stock exchange.
Holders of Record
As of February 20, 2024, there were approximately 36 shareholders of record of our Class A common stock. The number of record holders does not include persons who held shares of our Class A common stock in nominee or "street name" accounts through brokers. As of February 20, 2024, there were 13 shareholders of record of our Class B common stock.
Dividend Policy
No dividends have been declared or paid on our shares of common stock. We do not anticipate paying any cash dividends on any of our shares of common stock in the foreseeable future. Any determination to pay dividends in the future will be at the discretion of our Board and will depend upon our results of operations, cash requirements, financial condition, contractual restrictions, restrictions imposed by applicable laws and other factors that our Board may deem relevant.
Securities Authorized for Issuance under Equity Incentive Plans
The following table provides information about our compensation plans under which our Class A common stock is authorized for issuance, as of
December 31, 2023:
Number of securities to be issued upon exercise of outstanding options, warrants and rights (1) Weighted-average exercise price of outstanding options, warrants and rights (2) Number of securities remaining available for future issuances under equity compensation plans (3)
Equity compensation plans approved by security holders 7,609,420 $ 8.60 4,255,789
(1) Includes shares issuable pursuant to stock options, restricted stock units, restricted stock awards, stock appreciation rights and other stock-based awards under the Company's 2021 Plan. Represents shares under the 2021 Plan, including 5,261,663 shares assumed from the 2014 Plan.
(2) The weighted-average exercise price set forth in this column is calculated excluding restricted stock units or other awards for which recipients are not required to pay an exercise price to receive the shares subject to the awards.
(3) This amount represents shares of common stock available for issuance under the 2021 Plan, which include stock options, restricted stock units, restricted stock awards, stock appreciation rights and other stock-based awards.
Portillo's Inc. Form 10-K | 20
Stock Performance Graph
The following graph and table illustrate the total return from October 21, 2021 through December 31, 2023 for (i) our Class A common stock, (ii) the Standard and Poor's 500 Index, (iii) the Standard and Poor’s 500 Restaurants Index, and (iv) the Standard and Poor's 600 Restaurant Index assuming an investment of $100 on October 21, 2021 of Portillo's Inc. stock or on September 30, 2021 in the indices, including the reinvestment of dividends. Beginning in 2024, we will use the S&P 500 and S&P 600 Restaurant indices to benchmark against broad market and small-cap restaurant company performance as these indices better reflect the external market and our business.
10/21/2021 12/26/2021 4/1/2022 7/1/2022 10/1/2022 12/25/2022 4/1/2023 7/1/2023 10/1/2023 12/31/2023
Portillo's Inc. $100.00 $131.75 $82.10 $57.53 $67.66 $59.07 $73.44 $77.42 $52.89 $54.74
S&P 500 100.00 111.03 105.92 88.87 84.53 90.92 97.74 106.28 102.8 114.82
S&P 500 Restaurants
100.00 108.31 93.75 87.32 87.58 99.35 106.88 113.08 101.76 114.02
S&P 600 Restaurants
100.00 89.79 88.62 59.31 65.38 71.31 82.51 88.27 70.67 84.48
*$100 invested on 10/21/21 in Portillo's Inc. stock or 9/30/21 in indices, including reinvestment of dividends.
Indices calculated on month-end basis.
Source Data: Research Data Group Inc.
Portillo's Inc. Form 10-K | 21
Recent Sale of Unregistered Securities and Use of Proceeds from Registered Securities
None.
Issuer Purchases of Equity Securities
None.
ITEM 6. [RESERVED]
Not required.
Portillo's Inc. Form 10-K | 22
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