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
Since
January 22, 2020, our common stock has been listed on the Nasdaq Capital Market, under the symbol “SWKH.”
Holders of Record
There
were approximately 88 stockholders of record of our common stock as of February 27, 2024. The actual number of stockholders is greater
than this number of record holders and includes stockholders who are beneficial owners but whose shares are held in street name by brokers
and other nominees. This number of holders of record also does not include stockholders whose shares may be held in trust by other entities.
Dividend Policy
To
date, we have not paid any cash dividends on our capital stock. We intend to retain our cash and do not anticipate paying any cash dividends
in the foreseeable future.
Recent Sales
of Unregistered Equity Securities
None.
Issuer Purchases
of Equity Securities
On
May 31, 2022, the Board authorized a share repurchase program under which the Company was previously authorized to repurchase up to $10.0
million of the Company’s outstanding shares of common stock from time to time until May 15, 2023, through a Rule 10b5-1 trading
plan in compliance with all applicable laws and regulations, including Rule 10b-18 of the Exchange Act (the “Prior Repurchase Program”).
The purchase period for the Prior Repurchase Program was July 1, 2022 through May 15, 2023.
On
May 16, 2023, the Company announced that the Board had authorized the Company to repurchase up to $10.0 million of the Company’s
outstanding shares of common stock from time-to-time until May 16, 2024, through a trading plan established in compliance with Rule 10b5-1
and Rule 10b-18 of the Exchange Act (the “New Repurchase Program”). The actual timing, number and value of shares repurchased
under the New Repurchase Program will depend on several factors, including the constraints specified in the Rule 10b5-1 trading plan,
price, and general market conditions. There is no guarantee as to the exact number of shares that will be repurchased under the New Repurchase
Program. Our Board may also suspend or discontinue the New Repurchase Program at any time, in its sole discretion. The purchase period
for the New Repurchase Program is May 16, 2023 through May 16, 2024.
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The
table below summarizes information about our purchases of common stock during the three months ending December 31, 2023 (in thousands,
except per share data):
Period
Total Number of
Shares Purchased
Average
Price Paid
per Share
Total Number of
Shares Purchased
as Part of Publicly
Announced Plan
Maximum
Approximate
Dollar Value
of Shares That
May Yet Be
Purchased
Under the
Plan
October 1, 2023 - October 31, 2023
7,104
$ 15.75
7,104
$ 4,694
November 1, 2023 - November 30, 2023
1,283
16.10
1,283
4,673
December 1, 2023 - December 31, 2023
5,846
17.37
5,846
4,571
14,233
$ 16.45
14,233
As
of December 31, 2023, the Company has repurchased an aggregate of 113,639 shares under the Prior Repurchase Program and an aggregate
of 326,088 shares under the New Repurchase Program at a total cost of $7.5 million, or $16.97 per share. As of December 31, 2023, the
maximum dollar value of shares that may yet be purchased under the New Repurchase Program was approximately $4.6 million shares of
common stock. No shares are available for repurchase under the Prior Repurchase Program, which expired on May 15, 2023.
ITEM 6. RESERVED
Not Applicable.
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