Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER
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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 NYSE under the ticker CPAY. As of December 31, 2024, there were 313 holders of record
of our common stock.
DIVIDENDS AND STOCK REPURCHASES
We currently expect to retain all future earnings, if any, for use in the operation, expansion of our business and stock
repurchases. We have never declared or paid any dividends on our common stock and do not anticipate paying cash dividends
to holders of our common stock in the foreseeable future. In addition, our credit agreements restrict our ability to pay dividends.
Any determination to pay dividends in the future will be at the discretion of our board of directors and will depend upon, among
other factors, our results of operations, financial condition, capital requirements and covenants in our existing financing
arrangements and any future financing arrangements.
The Company's Board has approved a stock repurchase program (as updated from time to time, the "Program") authorizing the
Company to repurchase its common stock from time to time until February 4, 2026. On January 25, 2024, the Board authorized
an increase to the aggregate size of the Program by $1.0 billion to $8.1 billion, and on November 5, 2024, the Board authorized
an increase to the aggregate size of the Program by another $1.0 billion to $9.1 billion. Since the beginning of the Program
through December 31, 2024, 33,090,680 shares have been repurchased for an aggregate purchase price of $7.8 billion, leaving
the Company up to $1.3 billion of remaining authorization available under the Program for future repurchases in shares of its
common stock. There were 4,211,818 common shares totaling $1.3 billion in 2024; 2,597,954 common shares totaling
$0.7 billion in 2023; and 6,212,410 common shares totaling $1.4 billion in 2022 repurchased under the Program. Repurchased
shares are held as treasury stock on the Company's Consolidated Balance Sheets.
Any stock repurchases may be made at times and in such amounts as deemed appropriate. The timing and amount of stock
repurchases, if any, will depend on a variety of factors including the stock price, market conditions, corporate and regulatory
requirements, and any additional constraints related to material inside information the Company may possess. Any repurchases
have been and are expected to be funded by a combination of available cash flow from the business, working capital and debt.
The following table presents information with respect to purchase of common stock of the Company made during the three
months ended December 31, 2024 by the Company as defined in Rule 10b-18(a)(3) under the Exchange Act:
| Period | Total Number of Shares Purchased****1 | Average Price Paid Per Share | Total Number of Shares Purchased as Part of the Publicly Announced Plan | Maximum Value that May Yet be Purchased Under the Publicly Announced Plan (in thousands) | ||||
| October 1, 2024 through October 31, 2024 | 581 | $336.31 | — | |||||
| November 1, 2024 through November 30, 2024 | 651,967 | $374.26 | — | |||||
| December 1, 2024 through December 31, 2024 | — | $— | — | $1,275,399 |
| 1 During the quarter ended December 31, 2024, pursuant to our Stock Incentive Plan, we withheld 652,548 shares, at an average price per share of $374.22, in order to satisfy employees' tax withholding obligations in connection with the vesting of awards of restricted stock. |
PERFORMANCE GRAPH
The following graph assumes $100 invested on December 31, 2019, at the closing price ($287.72) of our common stock on that
day and compares (a) the percentage change of our cumulative total stockholder return on the common stock (as measured by
dividing (i) the difference between our share price at the end and the beginning of the period presented by (ii) the share price at
the beginning of the periods presented) with (b) (i) the Russell 2000 Index, (ii) the S&P 500® Data Processing & Outsourced
Services and (iii) S&P 500.

RECENT SALES OF UNREGISTERED SECURITIES AND USE OF PROCEEDS
Not Applicable.
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