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 common stock is traded on the New York Stock Exchange and NYSE Texas under the ticker symbol “TRN”. Our transfer agent and registrar as of December 31, 2025 was Equiniti Trust Company, LLC.
Holders
At January 31, 2026, we had 876 record holders of common stock. The par value of the common stock is $0.01 per share.
Stock Performance Graph
The following 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 of 1933 or Securities Exchange Act of 1934, each as amended, except to the extent that the Company specifically incorporates it by reference into such filing.
The following graph compares our cumulative total stockholder return (assuming reinvestment of dividends) during the five-year period ended December 31, 2025 with an overall stock market index (New York Stock Exchange Composite Index) and our relevant peer group index (S&P 600 Machinery Index). The S&P SmallCap 600 is included as we believe it is a meaningful data point as the Company's common stock is included in this index. Additionally, the S&P SmallCap 600 is used in measuring the Company's relative total stockholder return for purposes of determining the performance of certain stock awards granted beginning in 2023. The data in the graph assumes $100 was invested on December 31, 2020.
2020 2021 2022 2023 2024 2025
Trinity Industries, Inc. 100 118 120 112 154 121
New York Stock Exchange Composite Index 100 121 109 124 144 170
S&P 600 Machinery Index 100 120 113 143 164 176
S&P SmallCap 600 100 127 106 123 134 142
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Issuer Purchases of Equity Securities
This table provides information with respect to purchases by the Company of shares of its common stock during the quarter ended December 31, 2025:
Period Number of Shares Purchased (1)
Average Price Paid per Share (1)
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (2)
Maximum Number (or Approximate Dollar Value) of Shares that May Yet Be Purchased Under the Plans or Programs (2)
(in millions)
October 1, 2025 through October 31, 2025
162,440 $ 27.69 161,241 $ 165.4
November 1, 2025 through November 30, 2025
246,105 $ 25.75 238,435 $ 159.2
December 1, 2025 through December 31, 2025
60,431 $ 27.14 56,092 $ 157.7
Total 468,976 455,768
(1) These columns include the following transactions during the three months ended December 31, 2025: (i) the surrender to the Company of 13,187 shares of common stock to satisfy tax withholding obligations in connection with the vesting of restricted stock issued to employees; (ii) the purchase of 21 shares of common stock by the Trustee for assets held in a non-qualified employee profit-sharing plan trust; and (iii) the purchase of 455,768 shares of common stock on the open market as part of our share repurchase program.
(2) In December 2022, our Board of Directors authorized a share repurchase program effective December 9, 2022 with no expiration. The share repurchase program authorizes the Company to repurchase up to $250.0 million of its common stock. The Company repurchased 455,768 shares under the share repurchase program during the three months ended December 31, 2025, at a cost of approximately $12.1 million, resulting in a remaining authorization to repurchase up to $157.7 million of its common stock under the share repurchase program as of December 31, 2025. The approximate dollar value of shares that were eligible to be repurchased under our share repurchase program is shown as of the end of such month or quarter.
Item 6. [Reserved]
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