Item 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
DOMINION ENERGY
Dominion Energy’s common stock is listed on the NYSE under the ticker symbol D. At February 12, 2021, there were approximately 130,000 record holders of Dominion Energy’s common stock. The number of record holders is comprised of individual shareholder accounts maintained on Dominion Energy’s transfer agent records and includes accounts with shares held in (1) certificate form, (2) book-entry in the Direct Registration System and (3) book-entry under Dominion Energy Direct®. Discussions of expected dividend payments required by this Item are contained in Liquidity and Capital Resources in Item 7. MD&A.
Purchases of Equity Securities
| Period | Total Number of Shares (or Units) Purchased | Average Price Paid per Share (or Unit)(4) | Total Number of Shares (or Units) Purchased as Part of Publicly Announced Plans or Programs | Maximum Number (or Approximate Dollar Value) of Shares (or Units) that May Yet Be Purchased under the Plans or Programs(5) | |||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 10/1/20-10/31/20 | 52,079 | (1) | $ | 78.59 | — | $ 0.62 billion | |||||||||||||||||
| 11/1/20-11/30/20 | 3,049,613 | (2) | 80.36 | 3,029,827 | 1.48 billion | ||||||||||||||||||
| 12/1/20-12/31/20 | 7,387,403 | (3) | 76.22 | 7,387,403 | 0.92 billion | ||||||||||||||||||
| Total | 10,489,095 | $ | 77.44 | 10,417,230 | $ 0.92 billion |
| (1) | Represents shares of common stock that were tendered by employees to satisfy tax withholding obligations on vested restricted stock. |
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| (2) | Includes (i) 19,786 shares of common stock that were tendered by employees to satisfy tax withholding obligations on vested restricted stock;(ii) 1,647,192 shares of common stock purchased in open market transactions for an aggregate of approximately $132 million; and (iii) 1,382,635 shares of common stock delivered upon the completion of the purchase periods under two prepaid accelerated share repurchase agreements entered into by Dominion Energy in September 2020. |
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| (3) | Includes (i) 2,045,345 shares of common stock purchased in open market transactions for an aggregate of approximately $163 million and (ii) 5,342,058 shares of common stock delivered to Dominion Energy under an accelerated share repurchase program. Dominion Energy entered into a prepaid accelerated share repurchase agreement with a financial institution in December 2020 to purchase $400 million in shares of common stock. No additional shares will be delivered under this agreement as the repurchase period ended in December 2020. |
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| (4) | Represents the weighted-average price paid per share. |
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| (5) | In July 2020, the Dominion Energy Board of Directors authorized the repurchase of up to $3.0 billion in shares of common stock and rescinded its prior repurchase authorization approved in February 2005 and modified in June 2007. Dominion Energy completed repurchases under this authorization in December 2020. In November 2020, the Dominion Energy Board of Directors authorized the repurchase of up to $1.0 billion of shares of common stock in addition to the repurchase program authorized in July 2020. This repurchase program has no expiration date or price or volume targets and may be modified suspended or terminated at any time. Shares may be purchased through open market or privately negotiated transactions or otherwise at the discretion of management subject to prevailing market conditions, applicable securities laws and other factors. |
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VIRGINIA POWER
There is no established public trading market for Virginia Power’s common stock, all of which is owned by Dominion Energy. Virginia Power intends to pay quarterly cash dividends in 2021 but is neither required to nor restricted, except as described in Note 21 to the Consolidated Financial Statements, from making such payments.
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