filings.toolsItem 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
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Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
AIG’s common stock, par value $2.50 per share (AIG Common Stock), is listed on the New York Stock Exchange (NYSE: AIG). There were approximately 18,502 shareholders of record of AIG Common Stock as of February 8, 2024.
Equity Compensation Plans
See Part III, Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.
Purchases of Equity Securities
The following table provides information about purchases made by or on behalf of AIG or any “affiliated purchaser” (as defined in Rule 10b-18(a)(3) under the Securities Exchange Act of 1934 (the Exchange Act)) of AIG Common Stock during the three months ended December 31, 2023:
| Period | Total Number of Shares Repurchased | Average Price Paid per Share* | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs | Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs (in millions) | ||||||||||||||||||||||
| October 1-31 | 2,787,099 | $ | 60.72 | 2,787,099 | $ | 7,038 | ||||||||||||||||||||
| November 1-30 | 6,703,311 | 64.26 | 6,703,311 | 6,608 | ||||||||||||||||||||||
| December 1-31 | 6,685,175 | 66.51 | 6,685,175 | 6,163 | ||||||||||||||||||||||
| Total | 16,175,585 | $ | 64.58 | 16,175,585 | $ | 6,163 |
*Excludes excise tax of $27 million due to the Inflation Reduction Act of 2022 for the year ended December 31, 2023.
On August 1, 2023, the Board of Directors authorized the repurchase of $7.5 billion of AIG Common Stock (inclusive of the approximately $2.15 billion of expected remaining authorization under the Board's prior share repurchase authorization upon expiration of the current 10b5-1 Plan as of August 7, 2023). As of December 31, 2023, approximately $6.2 billion remained under the authorization.
For additional information on our share purchases, see Note 18 to the Consolidated Financial Statements.
| AIG | 2023 Form 10-K | 41 |
ITEM 5 | Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Common Stock Performance Graph
The following Performance Graph compares the cumulative total shareholder return on AIG Common Stock for a five-year period (December 31, 2018 to December 31, 2023) with the cumulative total return of the S&P’s 500 stock index (which includes AIG), the S&P Property and Casualty Insurance Index and the S&P Life and Health Insurance Index.
Value of $100 Invested on December 31, 2018
(All $ as of December 31st)
Dividend reinvestment has been assumed and returns have been weighted to reflect relative stock market capitalization.
| As of December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||
| AIG | $ | 100.00 | $ | 133.58 | $ | 102.52 | $ | 157.80 | $ | 179.49 | $ | 196.94 | |||||||||||||||||||||||||||||||||||||||||
| S&P 500 | 100.00 | 131.49 | 155.68 | 200.37 | 164.08 | 207.21 | |||||||||||||||||||||||||||||||||||||||||||||||
| S&P 500 Property & Casualty Insurance Index | 100.00 | 125.87 | 134.63 | 160.58 | 190.89 | 211.53 | |||||||||||||||||||||||||||||||||||||||||||||||
| S&P 500 Life & Health Insurance | 100.00 | 123.18 | 111.51 | 152.41 | 168.18 | 176.00 |
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