Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities
Market Information
Our common shares are traded on the NASDAQ Global Select Market under the symbol “URBN.”
Holders of Record
On March 25, 2022, there were 90 holders of record of our common shares.
Dividend Policy
Our current credit facility includes certain limitations on the payment of cash dividends on our common shares. We have not paid any cash dividends since our initial public offering and do not anticipate paying any cash dividends on our common shares in the foreseeable future.
Securities Authorized for Issuance Under Equity Compensation Plans
All of the Company’s equity compensation plans have been approved by its shareholders. See Note 11, “Share-Based Compensation,” in the Notes to our Consolidated Financial Statements included in this Annual Report on Form 10-K for details of the Company’s equity compensation plans and outstanding awards.
Stock Performance
The following graph and table compares the cumulative total shareholder return on our common shares with the cumulative total return on the Standard and Poor’s 500 Composite Stock Index and the Standard and Poor’s 500 Apparel Retail Index for the period beginning January 31, 2017 and ending January 31, 2022, assuming the reinvestment of any dividends and assuming an initial investment of $100 in each. The comparisons in this table are required by the SEC and are not intended to forecast or be indicative of possible future performance of the common shares or the referenced indices.
Base
Period
Jan-17
INDEXED RETURNS
Years Ended
Company/Market/Peer Group
Jan-18
Jan-19
Jan-20
Jan-21
Jan-22
Urban Outfitters, Inc.
$
100.00
$
128.52
$
121.70
$
96.46
$
103.35
$
108.21
S&P 500
$
100.00
$
126.41
$
123.48
$
150.26
$
176.18
$
217.21
S&P 500 Apparel Retail
$
100.00
$
121.77
$
132.71
$
143.41
$
157.17
$
168.91
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A summary of the repurchase of our common shares under the Company’s share repurchase programs for the quarter ended January 31, 2022 is as follows:
Period
Total Number
of Shares Purchased (1)
Average Price
Paid Per Share
Total Number
of Shares Purchased
as Part of
Publicly
Announced
Plans
or Programs
Maximum
Number of
Shares that
May Yet
Be Purchased
Under the
Plans or
Programs (2)
November 1, 2021 through November 30, 2021
—
$
—
—
25,351,954
December 1, 2021 through December 31, 2021
639,135
$
28.55
639,135
24,712,819
January 1, 2022 through January 31, 2022
820,024
$
27.60
820,024
23,892,795
Total Fiscal 2022 Fourth Quarter
1,459,159
1,459,159
23,892,795
(1)
In addition to the shares repurchased under the share repurchase program, for the quarter ended January 31, 2022, the Company acquired and subsequently retired 3,325 common shares from employees to meet payroll tax withholding requirements. These shares do not reduce the number of shares that may yet be purchased under our publicly announced share repurchase programs.
(2)
On August 22, 2017, the Company’s Board of Directors authorized the repurchase of 20,000,000 shares under a share repurchase program. On June 4, 2019, the Company’s Board of Directors authorized the repurchase of an additional 20,000,000 shares under a share repurchase program.
Item 6. Selected Financial Data
Reserved.
19
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.