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
Our ordinary shares have been publicly traded since November 17, 2011 when our ordinary shares were listed and began trading on the New York Stock Exchange ("NYSE") under the symbol “DLPH.” On December 4, 2017, following the spin-off of Delphi Technologies, the Company changed its name to Aptiv PLC and its NYSE symbol to "APTV."
The following table sets forth the high and low sales price per share of our ordinary shares, as reported by NYSE, for 2016 and 2017. As of January 26, 2018, there were approximately 3 shareholders of record of our ordinary shares.
| Price Range of Ordinary Shares | |||||||
| High | Low | ||||||
| 2016 | |||||||
| Period from January 1 through March 31, 2016 | $ | 71.08 | $ | 46.60 | |||
| Period from April 1 through June 30, 2016 | 65.38 | 48.65 | |||||
| Period from July 1 through September 30, 2016 | 60.46 | 49.43 | |||||
| Period from October 1 through December 31, 2016 | 60.31 | 50.71 | |||||
| 2017 | |||||||
| Period from January 1 through March 31, 2017 | $ | 69.77 | $ | 55.84 | |||
| Period from April 1 through June 30, 2017 | 75.48 | 61.58 | |||||
| Period from July 1 through September 30, 2017 | 87.25 | 72.48 | |||||
| Period from October 1 through December 31, 2017 | 90.00 | 73.00 |
The prices per share in the above table reflect historical share prices that have been adjusted to reflect the separation of Delphi Technologies. For a description of the distribution of the issued and outstanding ordinary shares of Delphi Technologies pursuant to the Separation, refer to Note 1. General to the Consolidated Financial Statements included within this Annual Report.
The following graph reflects the comparative changes in the value from December 31, 2012 through December 31, 2017, assuming an initial investment of $100 and the reinvestment of dividends, if any in (1) our ordinary shares, (2) the S&P 500 index and (3) the Automotive Supplier Peer Group. Historical performance may not be indicative of future shareholder returns.
Stock Performance Graph
- $100 invested on December 31, 2012 in our stock or in the relevant index, including reinvestment of dividends. Fiscal year ended December 31, 2017.
| (1) | Aptiv PLC, adjusted for the distribution of Delphi Technologies on December 4, 2017 |
| (2) | S&P 500 – Standard & Poor’s 500 Total Return Index |
| (3) | Automotive Supplier Peer Group – Adient Plc, American Axle & Manufacturing Holdings Inc, Aptiv PLC, Borgwarner Inc, Cooper Tire & Rubber Co, Cooper-standard Holdings Inc, Dana Inc, Delphi Technologies PLC, Dorman Products Inc, Ford Motor Co, General Motors Co, Gentex Corp, Gentherm Inc, Genuine Parts Co, Goodyear Tire & Rubber Co, Horizon Global Corp, Lear Corp, Lkq Corp, Meritor Inc, Motorcar Parts Of America Inc, Standard Motor Products Inc, Stoneridge Inc, Superior Industries International Inc, Tenneco Inc, Tesla Inc, Tower International Inc, Visteon Corp, Wabco Holdings Inc |
| Company Index | December 31, 2012 | December 31, 2013 | December 31, 2014 | December 31, 2015 | December 31, 2016 | December 31, 2017 | ||||||||||||||||||
| Aptiv PLC (1) | $ | 100.00 | $ | 159.38 | $ | 195.63 | $ | 233.47 | $ | 186.64 | $ | 284.43 | ||||||||||||
| S&P 500 (2) | 100.00 | 132.39 | 150.51 | 152.59 | 170.84 | 208.14 | ||||||||||||||||||
| Automotive Supplier Peer Group (3) | 100.00 | 148.59 | 160.42 | 160.55 | 160.22 | 199.16 |
Dividends
The Company has declared and paid cash dividends of $0.29 per ordinary share in each quarter of 2016 and 2017, respectively. Following the separation of Delphi Technologies, in December 2017, the Board of Directors declared a regular quarterly cash dividend of $0.22 per ordinary share, payable on February 14, 2018 to shareholders of record at the close of business on February 5, 2018.
On December 4, 2017, Aptiv distributed the issued and outstanding ordinary shares of Delphi Technologies to the Company's shareholders. The Company distributed to its shareholders one ordinary share of Delphi Technologies for every three Aptiv ordinary shares outstanding as of November 22, 2017, the record date for the distribution. Shareholders received cash in lieu of any fractional ordinary shares of Delphi Technologies.
Equity Compensation Plan Information
The table below contains information about securities authorized for issuance under equity compensation plans. The features of these plans are discussed further in Note 21. Share-Based Compensation to our consolidated financial statements.
| Plan Category | Number of Securities to be Issued Upon Exercise of Outstanding Options, Warrants and Rights (a) | Weighted-Average Exercise Price of Outstanding Options, Warrants and Rights (b) | Number of Securities Remaining Available for Future Issuance Under Equity Compensation Plans (excluding securities reflected in column (a)) (c) | ||||||||||
| Equity compensation plans approved by security holders | 2,165,917 | (1) | $ | — | (2) | 16,635,211 | (3) | ||||||
| Equity compensation plans not approved by security holders | — | — | — | ||||||||||
| Total | 2,165,917 | — | 16,635,211 |
| (1) | Includes (a) 24,579 outstanding restricted stock units granted to our Board of Directors and (b) 2,141,338 outstanding time- and performance-based restricted stock units granted to our executives. All grants were made under the Aptiv PLC Long Term Incentive Plan, as amended and restated effective April 23, 2015 (the "PLC LTIP"). Includes accrued dividend equivalents. |
| (2) | The restricted stock units have no exercise price. |
| (3) | Remaining shares available under the PLC LTIP. |
Repurchase of Equity Securities
A summary of our ordinary shares repurchased during the quarter ended December 31, 2017, is shown below:
| Period | Total Number of Shares Purchased (1) | Average Price Paid per Share (2) | 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 Program (in millions) (3) | ||||||||||
| October 1, 2017 to October 31, 2017 | — | $ | — | — | $ | 989 | ||||||||
| November 1, 2017 to November 30, 2017 | — | — | — | 989 | ||||||||||
| December 1, 2017 to December 31, 2017 | — | — | — | 989 | ||||||||||
| Total | — | — | — |
| (1) | The total number of shares purchased under the Board authorized plans described below. |
| (2) | Excluding commissions. |
| (3) | In April 2016, the Board of Directors authorized a share repurchase program of up to $1.5 billion. This program follows the completion of the previously announced share repurchase program of $1.5 billion, which was approved by the Board of Directors in January 2015. The timing of repurchases is dependent on price, market conditions and applicable regulatory requirements. |
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