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 trades on the NASDAQ Global Select Market under the symbol “WING”. As of February 18, 2025, there were 144 stockholders of record of our common stock. This number excludes stockholders whose stock is held in nominee or street name by brokers.
Dividends on Common Stock
On February 18, 2025, the Company’s board of directors declared a quarterly dividend of $0.27 per share of common stock, to be paid on March 28, 2025 to stockholders of record as of March 7, 2025, totaling approximately $7.7 million.
We evaluate dividend payments on common stock within the context of our overall capital allocation strategy with our board of directors on an ongoing basis, giving consideration to a number of factors including our current and forecasted earnings, financial condition, the general economic and regulatory environment, cash requirements, cash surplus, legal requirements or limitations, and other factors. There can be no assurance that we will continue to pay such dividends or as to the amount of any such dividends if paid.
Recent Sales of Unregistered Securities
There were no sales of unregistered securities during the fiscal year ended December 28, 2024 that were not previously reported on a Quarterly Report on Form 10-Q or a Current Report on Form 8-K.
Issuer Purchases of Equity Securities
The following table sets forth information on our share repurchases of our common stock during the fourth quarter of 2024:
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 (2)
Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs (2)
September 29, 2024 - October 26, 2024 — $ — — $ 61,082,928
October 27, 2024 - November 30, 2024 — — — 61,082,928
December 1, 2024 - December 28, 2024 551,325 $ 328.54 551,325 311,082,928
Total 551,325 $ 328.54 551,325 $ 311,082,928
(1) On December 9, 2024, the Company entered into an accelerated share repurchase agreement (the “ASR Agreement”) with a third-party financial institution to repurchase $250.0 million of the Company’s common stock under its Share Repurchase Program (as defined in note (2) below). Pursuant to the terms of the ASR Agreement, during the fiscal fourth quarter of 2024 the Company made an initial payment to the financial institution of $250.0 million in cash and received and retired 551,325 shares of its common stock, representing an estimated 75% of the total shares expected to be delivered under the ASR Agreement, based on the closing price on the date of initial delivery of $328.54. The delivery of any remaining shares will occur at the final settlement of the transactions under the ASR Agreement, which is scheduled to occur in the fiscal first quarter of 2025.
(2) On December 5, 2024, the Company’s board of directors authorized the repurchase of up to an additional $500.0 million of its outstanding shares of common stock under its existing share repurchase program (the “Share Repurchase Program”). The authorization for the repurchase continues until all such shares have been repurchased or the repurchase plan is terminated by action of our board of directors. As of December 28, 2024, $311.1 million remained available under the Share Repurchase Program.
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Performance Graph
The following performance graph compares the dollar change in the cumulative stockholder return on our common stock with the cumulative total returns of the NASDAQ Composite Index and the Standard & Poor’s 400 Restaurant Index (the “S&P 400 Restaurant Index”). This graph assumes a $100 investment in our common stock and in each of the foregoing indices on December 28, 2019, and assumes the reinvestment of dividends, if any. The indices are included for comparative purposes only. They do not necessarily reflect management’s opinion that such indices are an appropriate measure of the relative performance of our common stock, and historical stock price performance should not be relied upon as an indication of future stock price performance. This graph is “furnished” and not “filed” with the SEC and it is not “soliciting material,” and should not be incorporated by reference in any of our filings under the Securities Act or the Exchange Act, whether made before or after the date hereof and irrespective of any general incorporation language in such filing.
Item 6. Reserved
Not applicable.
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