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
Market Information
Our common stock, $0.00001 par value per share, is traded on Nasdaq under the symbol “ZYME.” Prior to December 16, 2022, our common stock was traded on the NYSE under the symbol “ZYME.”
Holders
As of February 26, 2026, we had 72 stockholders of record holding our common stock. A substantially greater number of holders of Zymeworks’ common stock are “street name” or beneficial holders whose shares of record are held by banks, brokers, and other financial institutions.
Dividends
We have never paid any dividends on our common stock or any of our other securities. We currently intend to retain any future earnings to finance the growth and development of our business, and we do not anticipate that we will declare or pay any cash dividends in the foreseeable future. Any future determination to pay cash dividends will be at the discretion of our board of directors and will be dependent upon our financial condition, results of operations, capital requirements, restrictions under any future indebtedness and other factors the board of directors deems relevant.
Performance Graph
As a “smaller reporting company,” as defined in Rule 12b-2 of the Exchange Act, and pursuant to Instruction 6 to Item 201(e) of Regulation S-K, we are not required to provide the stock performance graph.
Recent Sales of Unregistered Securities
Except as previously disclosed, we di d not sell securities without registration under the Securities Act during the fiscal year ended December 31, 2025.
Issuer Repurchases of Equity Securities
On August 1, 2024, our board of directors authorized a stock repurchase program ( “ 2024 Repurchase Program ”) , whereby we could repurchase up to $60.0 million of our outstanding common stock. As of October 31, 2024, we completed the initial $30.0 million of the 2024 Repurchase Program, consisting of the repurchase of 2,545,402 shares at an average price per share of $11.79 (exclusive of commission expense and estimated e xcise tax). As of November 10, 2025, we completed the remaining $30.0 million of the 2024 Repurchase Program, consisting of the repurchase of 1,856,907 shares at an average price per share of $16.15 (exclusive of commission expense and estimated excise tax).
On November 16, 2025, our board of directors authorized a new stock repurchase program (the “2025 Repurchase Program”), whereby we may repurchase up to $125.0 million of our outstanding common stock. As of December 31, 2025, we repurchased an aggregate of $11.2 million, consisting of 431,217 shares at an average price per share of $25.94 (exclusive of commission expense and estimated excise tax).
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In the fourth quarter of 2025, shares of common stock purchased under the authorizations consisted of the following:
Period
Total number of shares purchased
Average price paid per share (1)
Total number of shares purchased as part of publicly announced plans or programs
Dollar value of shares that may yet be purchased under publicly announced plans or programs (in millions)
October 1, 2025 - October 31, 2025
410,735 17.16 410,735 7.3
November 1, 2025 - November 30, 2025
478,043 18.21 478,043 123.6
December 1, 2025 - December 31, 2025
371,013 26.25 371,013 113.8
1,259,791 $ 20.24 1,259,791 $ 113.8
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(1) Average price paid per share excludes commission expense and estimated excise tax.
Item 6. Reserved
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