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
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Market Information
Since October 4, 2016, the Company’s common stock has been listed on the New York Stock Exchange (“NYSE”) under the symbol “SD.”
Holders
As of February 26, 2026, there were 307 record holders of the Company’s common stock, which does not reflect persons or entities that hold the common stock in nominee or “street” name through various brokerage firms and financial institutions.
Dividends
Dividend payments, excluding shares issued in lieu of cash dividends, for the year ended December 31, 2025 totaled $15.9 million, which included $0.2 million of dividends on vested stock awards. See Note 19 for discussion on dividends declared paid in 2026.
The payment of any dividends in the future, and the timing and amount thereof, is within the discretion of the Board. The Boards' decisions regarding the payment of dividends will depend on many factors, such as our financial condition, earnings, capital requirements, debt service obligations, restrictive covenants in our debt, industry practice, legal requirements, regulatory constraints, and other factors that the Board deems relevant. Our ability to pay dividends will depend on our existing cash available and our ongoing ability to generate cash from operations and on our access to the capital markets. We cannot guarantee that we will continue to pay a dividend in any future period.
Issuer Purchases of Equity Securities
Period Total Number of Shares Purchased(1) Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Program(2) Maximum Approximate Dollar Value of Shares that May Yet Be Purchased Under the Program
(in Millions)(2)
October 1, 2025 - October 31, 2025 — $ — — $ 68.3
November 1, 2025 - November 30, 2025 3,248 $ 14.43 — $ 68.3
December 1, 2025 - December 31, 2025 — $ — — $ 68.3
Total 3,248 —
(1) Includes 3,248 shares of common stock tendered by employees in order to satisfy tax withholding requirements upon vesting of their stock awards. Shares withheld are initially recorded as treasury shares, then immediately retired.
(2) In May 2023, the Board approved the initiation of a share repurchase program authorizing the Company to purchase up to an aggregate of $75.0 million of the Company’s common stock. The maximum number of shares that may still be purchased under the buyback program is approximately 4.0 million as of February 26, 2026.
Item 6. [Reserved].
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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.