−Removed: Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
+Added: Market for Registrant’s Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities
Our Class A Common Stock trades on the NASDAQ Global Market of the NASDAQ Stock Market LLC under the ticker symbol SGA.
−Removed: There is no public trading market for our Class B Common Stock.
The closing price for our Class A Common Stock on March 3, 2023 as reported by the NASDAQ was $24.05.
−Removed: As of March 4, 2022, there were approximately 166 holders of record of our Class A Common Stock, and one holder of our Class B Common Stock.
−Removed: During 2021, our Board of Directors declared three quarterly cash dividends and a special dividend totaling $0.98 per share on its Classes A and B shares.
+Added: As of March 3, 2023, there were approximately 174 holders of record of our Class A Common Stock.
+Added: This figure does not include an estimate of the indeterminate number of beneficial holders whose shares may be held of record by brokerage firms and clearing agencies.
+Added: During 2022, our Board of Directors declared four quarterly cash dividends and two special dividends totaling $4.86 per share on our Classes A and B shares.
These dividends totaling approximately $29.6 million were accrued or paid during 2022.
+Added: In December 2022, the Board of Directors adopted a new variable dividend policy for the allocation of cash flows aligned with the Company’s goals of maintaining a strong balance sheet, increasing cash returns to shareholders, and continuing to grow the Company through strategic acquisitions.
+Added: Under the new policy, in addition to any quarterly and special dividends paid, the Company will declare an additional dividend in the second quarter of each year of 70% of the preceding year’s annual Free Cash Flow, as reported in the Company’s fourth quarter earnings release, net of acquisitions, special and quarterly dividends, debt paydowns and debt issuance costs, and stock buybacks.
See Note 1 of the financial statements for specific details on the dividends.
−Removed: During 2020, our Board of Directors declared one quarterly cash dividends totaling $0.32 per share on its Classes A and B shares.
+Added: During 2021, our Board of Directors declared three quarterly cash dividends and a special dividend totaling $0.98 per share on our Classes A and B shares.
+Added: These dividends totaling approximately $5.9 million were accrued or paid during 2021.
+Added: See Note 1 of the financial statements for specific details on the dividends.
+Added: During 2020, our Board of Directors declared one quarterly cash dividends totaling $0.32 per share on our Classes A and B shares.
These dividends totaling approximately $1.9 million were paid during 2020.
1 unchanged sentence
See Note 1 of the financial statements for specific details on the dividends.
−Removed: During 2019, our Board of Directors declared four quarterly cash dividends totaling $1.20 per share on its Classes A and B shares.
−Removed: These dividends totaling approximately $7.1 million were accrued or paid during 2019.
−Removed: See Note 1 of the financial statements for specific details on the dividends.
−Removed: The Company currently intends to pay regular quarterly cash dividends in the future as declared by the Board of Directors.
−Removed: Consisten with returning value to our shareholders, the Board of Directors may also consider declaring special cash dividends, stock dividends, and stock buybacks in the future.
+Added: The Company currently intends to declare regular quarterly cash dividends, special dividends, variable dividends, and stock buybacks in the future consistent with its goals as previously stated.
+Added: The declaration and payment of any future dividend, whether fixed, special, or based upon the variable policy, will remain at the full discretion of the Company’s Board of Directors and will depend upon the Company’s financial results, cash requirements, future expectations, and other factors that the Company’s Board of Directors finds relevant at the time of considering any potential dividend declaration.
Securities Authorized for Issuance Under Equity Compensation Plan Information
7 unchanged sentences
Plan Category
−Removed: Equity Compensation Plans Approved by Stockholders:
+Added: Equity Compensation Plans Approved by Shareholders:
Employees’ 401(k) Savings and Investment Plan
2005 Incentive Compensation Plan
−Removed: Equity Compensation Plans Not Approved by Stockholders:
+Added: Equity Compensation Plans Not Approved by Shareholders:
(1) All 91,120 shares are restricted stock.
9 unchanged sentences
November 1 - November 30, 2022
−Removed: December 1 - Decemer 31, 2021
+Added: December 1 - December 31, 2022
(1) All shares were purchased other than through a publicly announced plan or program.
5 unchanged sentences
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.