TRAVELZOO 10-K

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities Market Information Since August 18, 2004, our common stock has been trading on the NASDAQ Global Select Market under the symbol “TZOO.” The following table sets forth, for the periods indicated, the high and low sales prices per share of our common stock as reported by NASDAQ. High Low 2021: Fourth Quarter $ 13.32 $ 9.10 Third Quarter $ 15.42 $ 10.64 Second Quarter $ 18.34 $ 14.04 First Quarter $ 17.88 $ 8.71 2020: Fourth Quarter $ 10.50 $ 6.43 Third Quarter $ 8.51 $ 5.17 Second Quarter $ 8.38 $ 3.16 First Quarter $ 11.78 $ 3.10 On March 16, 2022, the last reported sales price of our common stock on the NASDAQ Global Select Market wa s $5.51 per share. As of March 16, 2022, there were approxi mately 176 stockholders of record of our shares. Dividend Policy Travelzoo has not declared or paid any cash dividends since inception and does not expect to pay cash dividends for the foreseeable future. The payment of dividends will be at the discretion of Travelzoo’s Board of Directors and will depend upon factors such as future earnings, capital requirements, our financial condition and general business conditions. Sales of Unregistered Securities There were no unregistered sales of equity securities during fiscal year 2021. Repurchases of Equity Securities We did not repurchase any of our equity securities during the quarter ended December 31, 2020. Period Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Programs Maximum Shares that May Yet be Purchased Under the Programs (1) October 1, 2021 - October 31, 2021 — — — 395,029 November 1, 2021 - November 30, 2021 236,335 $ 9.88 236,335 158,694 December 1, 2021 - December 31, 2021 158,694 $ 9.89 158,694 — 395,029 395,029 28 Performance Graph The following graph compares, for the dates specified, the cumulative total stockholder return for Travelzoo, the NASDAQ Stock Market (U.S. companies) Index (the “NASDAQ Market Index”), and the Standard & Poor's 500 Publishing Index (the “S&P 500 Publishing”). Measurement points are the last trading day of each of the Company's fiscal years ended December 31, 2017, December 31, 2018, December 31, 2019, December 31, 2020 and December 31, 2021. The graph assumes that $100 was invested on December 31, 2016 in the Common Stock of the Company, the NASDAQ Market Index and the S&P 500 Publishing and assumes reinvestment of any dividends. The stock price performance on the following graph is not indicative of future stock price performance. Measurement Point 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 Travelzoo $ 100 $ 69 $ 105 $ 114 $ 100 $ 99 NASDAQ Market Index $ 100 $ 128 $ 123 $ 166 $ 239 $ 291 Russell 2000 Index $ 100 $ 113 $ 99 $ 123 $ 146 $ 165 29 Item 6. Selected Consolidated Financial Data Not required for smaller reporting companies.