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
CSC’s common stock is listed on The New York Stock Exchange under the ticker symbol SCHW. The number of common stockholders of record as of January 31, 2023, was 5,255. The closing market price per share on that date was $77.42.
The following graph shows a five-year comparison of cumulative total returns for CSC’s common stock, the Standard & Poor’s ® 500 Index, and the Dow Jones U.S. Investment Services Index, each of which assumes an initial investment of $100 and reinvestment of dividends.
December 31, 2017 2018 2019 2020 2021 2022
The Charles Schwab Corporation $ 100 $ 82 $ 95 $ 108 $ 173 $ 173
Standard & Poor’s 500 Index $ 100 $ 96 $ 126 $ 149 $ 192 $ 157
Dow Jones U.S. Investment Services Index $ 100 $ 88 $ 110 $ 130 $ 182 $ 163
Securities Authorized for Issuance Under Equity Compensation Plans
For information relating to compensation plans under which our equity securities are authorized for issuance, see Item 8 – Note 21 and Part III – Item 12.
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THE CHARLES SCHWAB CORPORATION
Issuer Purchases of Equity Securities
The following table summarizes purchases made by or on behalf of CSC of its common stock for each calendar month in the fourth quarter of 2022 (in millions, except number of shares, which are in thousands, and per share amounts):
Month Total Number of Shares Purchased Average
Price Paid
per Share Total Number of Shares Purchased as Part of Publicly Announced Program Approximate Dollar Value of Shares That May Yet Be Purchased Under the Publicly Announced Program
October:
Share repurchase program (1)
9,607 $ 73.44 9,607 $ 12,794
Employee transactions (2)
15 $ 70.79 N/A N/A
November:
Share repurchase program (1)
6,183 $ 78.27 6,183 $ 12,310
Employee transactions (2)
461 $ 79.98 N/A N/A
December:
Share repurchase program (1)
9,377 $ 79.39 9,377 $ 11,565
Employee transactions (2)
30 $ 79.67 N/A N/A
Total:
Share repurchase program (1)
25,167 $ 76.85 25,167 $ 11,565
Employee transactions (2)
506 $ 79.69 N/A N/A
(1) All shares were repurchased under an authorization approved by CSC’s Board of Directors of up to $15.0 billion of common stock publicly announced by CSC on July 27, 2022. The authorization does not have an expiration date. This authorization replaced the previous repurchase authorization publicly announced by CSC on January 30, 2019 of up to $4.0 billion of common stock.
(2) Includes restricted shares withheld (under the terms of grants under employee stock incentive plans) to offset tax withholding obligations that occur upon vesting and release of restricted shares. CSC may receive shares delivered or attested to pay the exercise price and/or to satisfy tax withholding obligations by employees who exercise stock options granted under employee stock incentive plans, which are commonly referred to as stock swap exercises.
N/A Not applicable.
Item 6. Reserved
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THE CHARLES SCHWAB CORPORATION
Management’s Discussion and Analysis of Financial Condition and Results of Operations
(Tabular Amounts in Millions, Except Ratios, or as Noted)