Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
−Removed: The Company’s common stock is traded on the Nasdaq Global Market under the symbol “RVSB.” At June 15, 2022, the number of shares of Company common stock issued and outstanding were 22,157,147 and 22,128,907, and there were 573 stockholders of record (not including the number of persons or entities holding stock in nominee or street name through various brokerage firms) and an estimated 3,314 holders in nominee or “street name”.
−Removed: Stock Repurchase
−Removed: The Company may repurchase shares of its common stock from time-to-time in open market transactions.
−Removed: The timing, volume and price of purchases are made at our discretion and are also contingent upon our overall financial condition, as well as general market conditions.
−Removed: During fiscal year 2022, the Company announced that its Board of Directors authorized two stock repurchase programs (the “June 2021 repurchase program” and “March 2022 repurchase program”).
−Removed: Under both the June 2021 repurchase program and March 2022 repurchase program, the Company was authorized to repurchase up to $5.0 million of the Company’s outstanding shares of common stock, in the open market or in privately negotiated transactions.
−Removed: The June 2021 repurchase program was effective from June 21, 2021 continuing until the earlier of the completion of the repurchase or December 21, 2021.
−Removed: As of the December 21, 2021, the termination date for the June 2021 repurchase program, the Company had repurchased $1.7 million worth of the Company’s outstanding shares at an average price of $6.89 per share.
−Removed: The March 2022 repurchase program is effective from March 21, 2022 continuing until the earlier of the completion of the repurchase or September 9, 2022.
−Removed: As of March 31, 2022, the Company repurchased $216,000 worth of the Company’s outstanding shares at an average price of $7.63 per share under this stock repurchase program.
−Removed: The following table sets forth the Company’s repurchases of its outstanding common stock under the March 2022 repurchase program during the three months ended March 31, 2022:
+Added: Market Information and Holders
+Added: The Company’s common stock is traded on the Nasdaq Global Market under the symbol “RVSB.” At June 14, 2023, there were 554 stockholders of record and an estimated 2,999 holders in nominee or “street name” through various brokerage firms.
+Added: Purchases of Equity Securities by the Issuer and Affiliated Purchases
+Added: On November 17, 2022, the Company announced that its Board of Directors authorized a stock repurchase program (the “November 2022 repurchase program”).
+Added: Under the November 2022 repurchase program, the Company was authorized to repurchase up to $2.5 million of the Company’s outstanding shares of common stock, in the open market or in privately negotiated transactions, over a period beginning on November 28, 2022 and continuing until the earlier of the completion of the authorized level of repurchases or May 28, 2023, depending upon market conditions.
+Added: As of March 31, 2023, the Company had repurchased 285,172 shares, or $1.9 million, of the Company’s outstanding shares at an average price of $6.74 per share.
+Added: Shares repurchased under the November 2022 repurchase program are retired as settled.
+Added: The actual timing, number and value of shares repurchased under the November 2022 repurchase program will depend on a number of factors, including constraints specified in any Rule 10b5-1 plan, price, general business and market conditions, and alternative investment opportunities.
+Added: The share repurchase program does not obligate us to acquire any specific number of shares in any period, and may be expanded, extended, modified or discontinued by our Board of Directors at any time.
+Added: The following table sets forth the Company’s repurchases of its outstanding common stock under the November 2022 repurchase program during the three months ended March 31, 2023:
Maximum Dollar Value
7 unchanged sentences
Repurchase Program
+Added: January 1, 2023
January 1, 2023 - January 31, 2023
1 unchanged sentence
March 1, 2023 - March 31, 2023
−Removed: Securities for Equity Compensation Plans
−Removed: Please refer to Item 12 in this Form 10-K for a listing of securities authorized for issuance under equity compensation plans.
−Removed: Five-Year Stock Performance Graph
−Removed: The following graph compares the cumulative total shareholder return on our common stock with the cumulative total return on the Standard & Poor’s 500 Stock Index and The NASDAQ Bank Index.
−Removed: The graph assumes that total return includes the reinvestment of all dividends and that the value of the investment in Riverview’s common stock and each index was $100 on March 31, 2017, and is the base amount used in the graph.
−Removed: The closing price of Riverview’s common stock on March 31, 2022 was $7.55.
−Removed: Riverview Bancorp, Inc.
−Removed: S & P 500 Index
−Removed: NASDAQ Bank Index
−Removed: *$100 invested on 3/31/17 in stock or index-including reinvestment of dividends.
−Removed: Copyright © 2022, Standard & Poor’s, a division of S&P Global.
−Removed: All rights reserved.
−Removed: www.researchdatagroup.com/S&P.htm
+Added: Equity Compensation Plan Information
+Added: The equity compensation plan information presented in Part III, Item 12 of this Form 10-K is incorporated herein by reference.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.