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
Our Class A common stock is listed on the New York Stock Exchange under the symbol “SG.”
Holders of Record
As of February 24, 2025, there were approximately 525 stockholders of record of our Class A common stock. The number of record does not include persons who held shares of our Class A common stock in nominee or “street name” accounts through brokers. As of February 24, 2025, there were approximately 13 stockholders of record of our Class B common stock that are affiliated with our three founders. The number of stockholders does not include stockholders whose shares may be held in trust by other entities.
Dividend Policy
We have never declared or paid cash dividends on our capital stock. We currently intend to retain all available funds and future earnings, if any, to fund the development and expansion of our business, and we do not anticipate declaring or paying any cash dividends in the foreseeable future. Any future determination regarding the declaration and payment of dividends, if any, will be at the discretion of our board of directors and will depend on then-existing conditions, including our financial condition, operating results, contractual restrictions (including any restrictions in our then-existing debt arrangements), capital requirements, business prospects, and other factors our board of directors may deem relevant.
Stock Performance Graph
The following performance graph shows a comparison from November 18, 2021 (the date our Class A common stock commenced trading on the New York Stock Exchange) through December 29, 2024, of the cumulative total return for our Class A common stock, the NYSE Composite Index, and the S&P 600 Restaurants Index.
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November 18,
2021 December 26,
2021 June 26,
2022 December 25,
2022 June 25,
2023 December 31,
2023 June 30,
2024 December 29,
2024
Sweetgreen $ 100.00 $ 112.00 $ 47.61 $ 31.54 $ 38.86 $ 40.36 $ 107.64 $ 115.61
NYSE $ 100.00 $ 99.10 $ 86.53 $ 88.73 $ 90.37 $ 98.45 $ 105.31 $ 111.45
S&P Restaurant 600 Index $ 100.00 $ 97.51 $ 68.95 $ 76.42 $ 89.44 $ 88.75 $ 80.96 $ 103.08
This graph assumes an initial investment of $100 on November 18, 2021. The comparisons in the graph are not intended to forecast or be indicative of possible future performance of our Class A common stock. The performance graph and related information shall not be deemed “soliciting material” or to be “filed” with the SEC, nor shall such information be incorporated by reference into any future filing under the Securities Act or Exchange Act.
Recent Sales of Unregistered Securities
None.
Issuer Purchases of Equity Securities
None .
Use of Proceeds
On November 22, 2021, we closed our initial public offering (“IPO”), in which we sold 14,950,000 shares of our Class A common stock at a price of $28.00 per share. Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC acted as joint book-running managers for the offering. All of the shares issued and sold in the IPO were registered under the Securities Act pursuant to a registration statement on Form S-1 (File No. 333-260472), which was declared effective by the SEC o n November 17, 2021. We raised aggregate net proceeds of $384.7 million, after deducting underwriting discounts and commis sions of $26.4 million and offering costs of approximately $7.5 million subject to certain cost reimbursements.
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There has been no material change in the planned use of proceeds from the IPO as described in our final prospectus dated November 17, 2021 and filed with the SEC pursuant to Rule 424(b) under the Securities Act of 1933, as amended, on November 19, 2021.
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.