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Company Stock Performance
−Removed: Our common stock trades on NASDAQ under the symbol “TRMB.” The following graph compares the cumulative five-year total return provided stockholders on our common stock relative to the cumulative total returns of the S&P 500 Index, the S&P 500 Information Technology Index, the S&P 500 Industrials Index, and the NASDAQ Composite Index.
+Added: Our common stock trades on NASDAQ under the symbol “TRMB.” The following graph compares the cumulative five-year total return provided stockholders on our common stock relative to the cumulative total returns of the S&P 500 Index, the S&P 500 Information Technology Index, and the S&P 500 Industrials Index.
An investment of $100 (with reinvestment of all dividends) is assumed to have been made in our common stock and in each of the indexes on December 31, 2017, and its relative performance is tracked through December 31, 2022.
−Removed: Trimble was added to the S&P 500 during 2021.
−Removed: We also added the S&P 500 Industrials Index, as both S&P 500 Information Technology and S&P 500 Industrials provide a better comparison with Trimble’s stock than either index individually.
Stock Repurchase Program
−Removed: The following table provides information relating to our purchase of equity securities for the fourth quarter of 2021 :
−Removed: Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Program Maximum Approximate Dollar Value of Shares that May Yet Be Purchased Under the Program
−Removed: October 2, 2021 – November 5, 2021 — $ — — $ 649,995,416
−Removed: November 6, 2021 – December 3, 2021 459,372 $ 87.08 459,372 $ 610,000,115
−Removed: December 4, 2021 – December 31, 2021 — $ — — $ 610,000,115
−Removed: Total 459,372 459,372
In August 2021, our Board of Directors approved a new share repurchase program (“2021 Stock Repurchase Program”) authorizing up to $750.0 million in repurchases of our common stock.
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The 2021 Stock Repurchase Program may be suspended, modified, or discontinued at any time at without prior notice.
−Removed: During 2021, we repurchased approximately 2.1 million shares of common stock in open market purchases under our 2017 and 2021 Stock Repurchase Programs, at an average price of $85.75 per share, for a total of $180.0 million.
+Added: There were no purchases of equity securities in the fourth quarter of 2022.
+Added: During 2022, we repurchased approximately 6.0 million shares of common stock in open market purchases under the 2021 Stock Repurchase Programs, at an average price of $65.90 per share, for a total of $394.7 million.
At the end of 2022, the 2021 Stock Repurchase Program had remaining authorized funds of $215.3 million.
+Added: Our pending acquisition of Transporeon, for a cash purchase price of €1.88 billion or $2.0 billion, will be funded through a combination of cash on hand and debt and is expected to occur in the first half of 2023.
+Added: Because of the additional outstanding indebtedness we have and expect to incur in connection with the pending acquisition, we have temporarily discontinued share repurchases.
As of February 14, 2023, there were approximately 506 holders of record of our common stock.
Dividend Policy
−Removed: We have not declared or paid any cash dividends on our common stock during any period for which financial information is provided in this Annual Report on Form 10-K.
+Added: We have not declared or paid any cash dividends on our common stock during any period for which financial information is provided in this report.
At this time, we intend to retain future earnings, if any, to fund the development and growth of our business and do not anticipate paying any cash dividends on our common stock in the foreseeable future.
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.