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 common stock is traded on the Nasdaq Global Select Market under the symbol CDNS. As of February 5, 2022, we had 384 registered stockholders and approximately 340,000 beneficial owners of our common stock.
Stockholder Return Performance Graph
The following graph compares the cumulative 5-year total stockholder return on our common stock relative to the cumulative total return of the Nasdaq Composite Index, the S&P 500 Index and the S&P 500 Information Technology Index. The graph assumes that the value of the investment in our common stock and in each index on December 31, 2016 (including reinvestment of dividends) was $100 and tracks it each year thereafter on the last day of our fiscal year through January 1, 2022 and, for each index, on the last day of the calendar year.
| 12/31/2016 | 12/30/2017 | 12/29/2018 | 12/28/2019 | 1/2/2021 | 1/1/2022 | |||||||||||||||||||||||||||||||||
| Cadence Design Systems, Inc. | $ | 100.00 | $ | 165.82 | $ | 171.85 | $ | 278.71 | $ | 540.96 | $ | 738.90 | ||||||||||||||||||||||||||
| Nasdaq Composite | 100.00 | 129.64 | 125.96 | 172.17 | 249.51 | 304.85 | ||||||||||||||||||||||||||||||||
| S&P 500 | 100.00 | 121.83 | 116.49 | 153.17 | 181.35 | 233.41 | ||||||||||||||||||||||||||||||||
| S&P 500 Information Technology | 100.00 | 138.83 | 138.43 | 208.05 | 299.37 | 402.73 |
The stock price performance included in this graph is not necessarily indicative of future stock price performance.
Issuer Purchases of Equity Securities
As of the end of fiscal 2020, approximately $739 million remained available under the previously announced authorization to repurchase shares of our common stock. In August 2021, our Board of Directors increased the prior authorization to repurchase shares of our common stock by authorizing an additional $1 billion. The actual timing and amount of repurchases are subject to business and market conditions, corporate and regulatory requirements, stock price, acquisition opportunities and other factors. As of January 1, 2022, approximately $1.1 billion of the share repurchase authorization remained available to repurchase shares of our common stock.
The following table presents repurchases made under our current authorization and shares surrendered by employees to satisfy income tax withholding obligations during the three months ended January 1, 2022:
| 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 | Maximum Dollar Value of Shares Authorized for Repurchase Under Publicly Announced Plan or Program (1) (In millions) | |||||||||||||||||||
| October 3, 2021 - November 6, 2021 | 273,361 | $ | 160.04 | 258,000 | $ | 1,195 | |||||||||||||||||
| November 7, 2021 - December 4, 2021 | 206,571 | $ | 182.03 | 188,200 | $ | 1,161 | |||||||||||||||||
| December 5, 2021 - January 1, 2022 | 202,711 | $ | 182.44 | 188,800 | $ | 1,126 | |||||||||||||||||
| Total | 682,643 | $ | 173.34 | 635,000 |
(1)Shares purchased that were not part of our publicly announced repurchase programs represent employee surrender of shares of restricted stock to satisfy employee income tax withholding obligations due upon vesting, and do not reduce the dollar value that may yet be purchased under our publicly announced repurchase programs.
(2)The weighted average price paid per share of common stock does not include the cost of commissions.
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