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.
As of August 30, 2021, there were approximately 1,895 stockholders of record of the Company’s common stock.
The Company had no sales of unregistered securities during fiscal 2021 or 2020.
The Company’s common stock is listed on the Capital Market of the NASDAQ Stock Market, LLC (“NASDAQ”) under the symbol “RAVE”. The following
table shows the highest and lowest price per share of the common stock during each quarterly period within the two most recent fiscal years, as reported by NASDAQ. Such prices reflect inter-dealer quotations, without adjustment for any retail
markup, markdown or commission.
High
Low
Fiscal 2021:
Fourth Quarter Ended 6/27/2021
$
1.68
$
1.15
Third Quarter Ended 3/28/2021
2.09
0.85
Second Quarter Ended 12/27/2020
2.36
0.42
First Quarter Ended 9/27/2020
0.91
0.38
Fiscal 2020:
Fourth Quarter Ended 06/28/2020
$
1.23
$
0.52
Third Quarter Ended 3/29/2020
1.83
0.69
Second Quarter Ended 12/29/2019
2.85
1.44
First Quarter Ended 9/29/2019
3.21
2.04
The Company did not pay any dividends on its common stock during the fiscal years ended June 27, 2021 or June 28, 2020. Any determination
to pay cash dividends in the future will be at the discretion of the Company’s board of directors and will be dependent upon the Company’s results of operations, financial condition, capital requirements, contractual restrictions and other factors
deemed relevant. Currently, there is no intention to pay any dividends on our common stock.
2007 Stock Purchase Plan
On May 23, 2007, the Company’s board of directors approved a stock purchase plan (the “2007 Stock Purchase Plan”) authorizing the purchase
on our behalf of up to 1,016,000 shares of our common stock in the open market or in privately negotiated transactions. On June 2, 2008, the Company’s board of directors amended the 2007 Stock Purchase Plan to increase the number of shares of common
stock the Company may repurchase by 1,000,000 shares to a total of 2,016,000 shares. On April 22, 2009 the Company’s board of directors amended the 2007 Stock Purchase Plan again to increase the number of shares of common stock the Company may
repurchase by 1,000,000 shares to a total of 3,016,000 shares. The 2007 Stock Purchase Plan does not have an expiration date. There were no stock purchases in the fiscal year ended June 27, 2021.
The Company’s ability to purchase shares of our common stock is subject to various laws, regulations and policies as well as the rules and
regulations of the Securities and Exchange Commission (the “SEC”). Subsequent to June 27, 2021, the Company has not repurchased any outstanding shares but may make further purchases under the 2007 Stock Purchase Plan. The Company may also purchase
shares of our common stock other than pursuant to the 2007 Stock Purchase Plan or other publicly announced plans or programs.
Equity Compensation Plan Information
The following table furnishes information with respect to the Company’s stock option equity compensation plans as of June 27, 2021:
Plan Category
Number of securities to
be issued upon exercise
of outstanding options,
warrants, and rights
Weighted average
exercise price of
outstanding options,
warrants, and rights
Number of securities
remaining available for
future issuance under
equity compensation plans
Stock option compensation plans approved by security holders
166,750
$
5.49
2,098,261
Stock option compensation plans not approved by security holders
–
–
–
Total
166,750
$
5.49
2,098,261
ITEM 6.
Reserved
8
Index
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.