Western New England Bancorp, Inc. 10-K

ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED SHAREHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES. Market Information. The Company’s common stock is currently listed on NASDAQ under the trading symbol “WNEB.” As of December 31, 2021, there were 22,656,515 shares of the Company’s common stock outstanding by approximately 2,028 shareholders, as obtained through our transfer agent. Such number of shareholders does not reflect the number of persons or entities holding stock in nominee name through banks, brokerage firms and other nominees. Dividend Policy. The Company maintains a dividend reinvestment and direct stock purchase plan (the "DRSPP"). The DRSPP enables stockholders, at their discretion, to continue to elect to reinvest cash dividends paid on their shares of the Company’s common stock by purchasing additional shares of common stock from the Company at a purchase price equal to fair market value. Under the DRSPP, stockholders and new investors also have the opportunity to purchase shares of the Company's common stock without brokerage fees, subject to monthly minimums and maximums. Although the Company has historically paid quarterly dividends on its common stock, the Company’s ability to pay such dividends depends on a number of factors, including restrictions under federal laws and regulations on the Company’s ability to pay dividends, and as a result, there can be no assurance that dividends will be paid in the future. Recent Sales of Unregistered Securities. There were no sales by the Company of unregistered securities during the year ended December 31, 2021. Purchases of Equity Securities by the Issuer and Affiliated Purchasers. The following table sets forth information with respect to purchases made by the Company during the three months ended December 31, 2021. Period Total Number of Shares Purchased Average Price Paid per Share ($) Total Number of Shares Purchased as Part of Publicly Announced Programs Maximum Number of Shares that May Yet Be Purchased Under the Program (1)(2) October 1 - 31, 2021 155,240 8.89 155,240 714,157 November 1 - 30, 2021 — — — 714,157 December 1 - 31, 2021 50,720 8.76 36,838 677,319 Total 205,960 8.86 192,078 677,319 49 (1) On April 27, 2021, the Board of Directors authorized an additional stock repurchase plan under which the Company may purchase up to 2,400,000 shares, or 10%, of its outstanding common stock. (2) Repurchase of 13,882 shares related to tax obligations for shares of restricted stock that vested on December 31, 2021 under our 2014 Omnibus Incentive Plan. These repurchases were reported by each reporting person on January 3, 2022. Stock Performance Graph. The following graph compares our total cumulative shareholder return (which assumes the reinvestment of all dividends) by an investor who invested $100.00 on December 31, 2016 to December 31, 2021, to the total return by an investor who invested $100.00 in the S&P U.S. Banks Index $1 Billion - $5 Billion, the S&P U.S. BMI Banks New England Region Index and the NASDAQ Bank Index. COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN Among Western New England Bancorp, Inc., the S&P U.S. Banks Index $1 Billion - $5 Billion, the S&P U.S. BMI Banks New England Region Index and the NASDAQ Bank Index Period Ending Index 12/31/16 12/31/17 12/31/18 12/31/19 12/31/20 12/31/21 Western New England Bancorp, Inc. 100.00 117.98 110.36 108.12 80.01 104.15 S&P U.S. Banks $1 Billion - $5 Billion 100.00 102.80 85.53 106.62 96.52 130.73 S&P U.S. BMI Banks New England Region Index 100.00 117.18 85.91 102.19 88.51 123.54 NASDAQ Bank Index 100.00 105.46 88.40 109.95 101.70 145.34 50 ITEM 6. SELECTED FINANCIAL DATA. [Reserved.]