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 listed on the New York Stock Exchange under the symbol VSH. The following table sets forth the high and low sales prices for our common stock as
reported on the New York Stock Exchange composite tape for the indicated fiscal quarters. Holders of record of our common stock totaled approximately 1,000 at February 11, 2026. Because many of the shares of our common stock are held by brokers and
other institutions on behalf of stockholders, we are unable to estimate the total number of beneficial owners represented by these stockholders of record.
In 2014, the Company's Board of Directors instituted a quarterly cash dividend program and declared the first cash dividend in the history of Vishay. Quarterly cash
dividends have been paid in each quarter since the first fiscal quarter of 2014. We expect to continue to pay quarterly dividends, although the amount and timing of any future dividends remains subject to authorization of our Board of Directors.
The following table sets forth, for the indicated periods, the high and low sales prices of our common stock and the quarterly cash dividends declared.
Common stock price range
Dividends declared
2025
2024
per share
High
Low
High
Low
2025
2024
Fourth Quarter
$
17.79
$
11.77
$
20.15
$
14.95
$
0.10
$
0.10
Third quarter
$
18.20
$
13.03
$
24.69
$
17.42
$
0.10
$
0.10
Second quarter
$
16.30
$
10.35
$
24.19
$
20.83
$
0.10
$
0.10
First quarter
$
19.81
$
15.87
$
23.92
$
20.93
$
0.10
$
0.10
At February 11, 2026, we had outstanding 12,097,148 shares of Class B common stock, par value $0.10 per share, each of which entitles the holder to ten votes. The Class B common stock generally is not transferable except in certain very limited instances, and there is no market for those shares. The Class B common stock is convertible, at the option of the holder, into
common stock on a share for share basis. As a result of the passing of our founder and former Executive Chairman, Dr. Felix Zandman, Mrs. Ruta Zandman (a member of our Board of Directors) controls the voting of, solely or on a shared basis with Marc
Zandman (our Executive Chairman) and Ziv Shoshani (a former member of our Board of Directors), approximately 89.7% of our Class B common
stock and 44.4% of the total voting power of our capital stock as of December 31, 2025.
Certain of our debt obligations contain restrictions as to the payment of cash dividends. See "Financial Condition, Liquidity, and Capital Resources" included in Item
7, "Management's Discussion and Analysis of Financial Condition and Results of Operations."
In 2022, our Board of Directors adopted a Stockholder Return Policy, which calls for us to return at least 70% of free cash flow, net of scheduled principal payments of
long-term debt, on an annual basis. We intend to return such amounts to stockholders directly in the form of dividends, or indirectly, in the form of stock repurchases. The policy sets forth our intention, but does not obligate us to acquire any
shares of common stock or declare any dividends, and the policy may be terminated or suspended at any time at our discretion, in accordance with applicable laws and regulations. Despite generating negative free cash flow in 2025 primarily due to our
capacity expansion plans, we paid $54.2 million of dividends to stockholders and repurchased $12.5 million of our stock pursuant to the
Stockholder Return Policy in 2025. We expect to maintain our dividend and opportunistically repurchase shares based on U.S. available liquidity in line with this policy in 2026.
To enable the operation of our Stockholder Return Policy, our Board of Directors approves the repurchase of a stated number of shares of common stock from time-to-time.
As of December 31, 2025, approximately 2.8 million shares remained from previous repurchase authorizations. There were no repurchases of our common stock during the fiscal quarter ended December 31, 2025.
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Stock Performance Graph
The line graph below compares the cumulative total stockholder return on Vishay’s common stock over a 5-year period with the returns on the Standard & Poor’s MidCap
400 Stock Index, the Standard & Poor's SmallCap 600 Index (of which Vishay is a component), the Standard & Poor’s 500 Stock Index, and the Philadelphia Semiconductor Index. The line graph assumes that $100 had been invested at December 31,
2020 and assumes that all dividends were reinvested.
Base
Years Ending December 31,
Period
Company Name / Index
2020
2021
2022
2023
2024
2025
Vishay Intertechnology, Inc.
100
107.46
108.17
122.20
88.05
77.32
S&P 500 Index
100
128.71
105.40
133.10
166.40
196.16
S&P MidCap 400 Index
100
124.76
108.47
126.29
143.89
154.68
S&P SmallCap 600 Index
100
126.82
106.40
123.48
134.22
142.30
Philadelphia Semiconductor Index
100
142.85
93.02
155.35
186.98
268.23
Item 6. RESERVED
Not applicable.
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