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 Price of Common Stock
Our common stock is listed on the New York Stock Exchange under the symbol “TNL.” As of January 31, 2022, the number of stockholders of record was 4,378. The equity plan compensation information called for by Item 201(d) of Regulation S-K is set forth in Part III, Item 12 of this Annual Report on Form 10-K under the heading “Equity Compensation Plan Information as of December 31, 2021.”
Issuer Purchases of Equity Securities
Below is a summary of our Travel + Leisure Co. common stock repurchases by month for the quarter ended December 31, 2021:
ISSUER PURCHASES OF EQUITY SECURITIES
Period Total Number
of Shares
Purchased Average Price
Paid per Share Total Number of
Shares
Purchased as
Part of Publicly
Announced Plan Approximate Dollar
Value of Shares that
May Yet Be Purchased
Under the Publicly
Announced Plan (b)
October 2021 (October 1-31) 18,550 $ 53.88 18,550 $ 353,258,681
November 2021 (November 1-30) 187,431 55.17 187,431 342,917,685
December 2021 (a) (December 1-31)
289,974 51.44 289,974 328,002,326
Total (a)
495,955 $ 52.94 495,955 $ 328,002,326
(a) Includes 24,519 shares purchased for which the trade date occurred in December 2021 and settled in January 2022.
(b) On August 20, 2007, our Board of Directors (“Board”) authorized the repurchase of our common stock (the “Share Repurchase Program”). Under the Share Repurchase Program, we are authorized to repurchase shares through open market purchases, privately-negotiated transactions, or otherwise in accordance with applicable federal securities laws, including through Rule 10b5-1 trading plans and under Rule 10b-18 of the Exchange Act. The Share Repurchase Program has no time limit and may be suspended or discontinued completely at any time. The Board has since increased the capacity of the Share Repurchase Program eight times, most recently on October 23, 2017, by $1.0 billion, bringing the total authorization under the program to $6.0 billion. Proceeds received from stock option exercises have increased the repurchase capacity by $81 million since the inception of this program. Under our current and prior stock repurchase plans, the total authorization is $6.8 billion. See the “Share Repurchase Program” section included in Item 7 of this Annual Report on Form 10-K for further information on the Share Repurchase Program.
For a description of limitations on the payment of our dividends, see the “Dividends” section included in Item 7 of this Annual Report on Form 10-K.
Stock Performance Graph
The Stock Performance Graph is not deemed filed with the Securities and Exchange Commission (“SEC”) and shall not be deemed incorporated by reference into any of our prior or future filings made with the SEC.
The following Stock Performance Graph compares the cumulative total stockholder return of our common stock against the cumulative total returns of the Standard & Poor’s Rating Services (“S&P”) Midcap 400 index and the S&P Hotels, Resorts & Cruise Lines index for the period from December 31, 2016, to December 31, 2021. The graph assumes that $100 was invested on December 31, 2016, and all dividends and other distributions were reinvested.
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COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN (a)
Among Travel + Leisure Co., the S&P Midcap 400 Index
and the S&P Hotels, Resorts, & Cruise Lines Index
(a) $100 invested on December 31, 2016, in stock or index, including reinvestment of dividends.
Cumulative Total Return
Fiscal year ending December 31: 2016 2017 2018 2019 2020 2021
Travel + Leisure Co. $ 100.00 $ 155.42 $ 110.31 $ 165.53 $ 150.55 $ 189.63
S&P Midcap 400 $ 100.00 $ 116.24 $ 103.36 $ 130.44 $ 148.26 $ 184.97
S&P Hotels, Resorts & Cruise Lines $ 100.00 $ 149.09 $ 122.16 $ 167.42 $ 124.10 $ 148.72
The stock price performance included in this graph is not necessarily indicative of future stock price performance.
ITEM 6. [Reserved]
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