Item 5. Market for Registrant’s Common Equity
ITEM 5: MARKET FOR THE REGISTRANT’S COMMON EQUITY, RELATED S TOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Market Information
Our common stock is traded on The NASDAQ Global Market under the symbol “ULH.”
As of March 9, 2026, there were approximately 45 holders of record of our common stock, based on information provided by our transfer agent. Because a substantial number of shares of our common stock are held of record by the Depository Trust & Clearing Corporation or its nominee on behalf of brokers, banks, and other nominees, the number of beneficial owners of our common stock is likely greater than the number of record holders.
Dividends
We have historically paid cash dividends on our common stock. Under our current dividend policy, we anticipate a regular quarterly cash dividend of $0.105 per share of common stock, or $0.42 per share on an annualized basis, subject to declaration by our Board of Directors.
In addition, after considering the regular quarterly dividends paid during the year, the Board of Directors may evaluate the declaration of a special cash dividend, typically payable in the first quarter of the following year. The declaration, amount, and timing of any dividends, including any special dividends, are subject to the discretion of the Board of Directors and depend on a variety of factors, including our earnings, financial condition, liquidity, capital requirements, leverage, covenant compliance, and other factors deemed relevant by the Board.
There can be no assurance that we will continue to pay dividends at historical levels or at all. Limitations on our ability to pay dividends are described under “Liquidity and Capital Resources—Revolving Credit, Promissory Notes and Term Loan Agreements” in Item 7 of this Annual Report on Form 10-K.
Securities Authorized for Issuance under Equity Compensation Plans
Information regarding securities authorized for issuance under our equity compensation plans is set forth in Part III, Item 12, “Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters,” of this Annual Report on Form 10-K and is incorporated herein by reference.
Purchases of Equity Securities by the Issuer
On July 29, 2021, our Board of Directors authorized the repurchase of up to 1,000,000 shares of our common stock from time to time in the open market. As of December 31, 2025, approximately 513,251 shares remained available for repurchase under this authorization. The authorization does not have an expiration date and may be suspended, modified, or discontinued at any time at the discretion of the Board of Directors. The timing and amount of any future repurchases will depend on market conditions, share price, liquidity, covenant compliance, capital requirements, and other factors.
There were no purchases of our equity securities by or on behalf of us or any affiliated purchaser within the fourth quarter of 2025.
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Performance Graph
The following graph compares the cumulative total stockholder return on our common stock with the cumulative total return of the NASDAQ Composite Index and the NASDAQ Transportation Index for the five-year period ended December 31, 2025. The graph assumes an initial investment of $100 in each index and in our common stock on December 31, 2020 and the reinvestment of all dividends.
12/31/2020
12/31/2021
12/31/2022
12/31/2023
12/31/2024
12/31/2025
Universal Logistics Holdings, Inc.
100.00
93.37
168.02
142.91
236.67
79.80
NASDAQ Composite
100.00
122.18
82.43
119.22
154.48
187.14
NASDAQ Transportation
100.00
113.28
91.78
123.12
125.85
138.77
The stock price performance shown in the graph above is not necessarily indicative of future stock price performance. The performance graph shall not be deemed “soliciting material” or “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933 or the Exchange Act, except to the extent that we specifically incorporate it by reference.
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ITEM 6: R ESERVED