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
Market Information. Our common stock trades on the New York Stock Exchange under the symbol “EME”.
The following table sets forth high and low sales prices for our common stock for the periods indicated as reported by the New York Stock Exchange:
| 2017 | High | Low | |||||
| First Quarter | $ | 72.88 | $ | 59.76 | |||
| Second Quarter | $ | 69.14 | $ | 60.30 | |||
| Third Quarter | $ | 70.26 | $ | 62.15 | |||
| Fourth Quarter | $ | 84.11 | $ | 68.77 |
| 2016 | High | Low | |||||
| First Quarter | $ | 49.05 | $ | 40.98 | |||
| Second Quarter | $ | 49.88 | $ | 44.27 | |||
| Third Quarter | $ | 60.33 | $ | 47.69 | |||
| Fourth Quarter | $ | 73.44 | $ | 55.10 |
Holders. As of February 16, 2018, there were approximately 307 stockholders of record and, as of that date, we estimate there were approximately 40,678 beneficial owners holding our common stock in nominee or “street” name.
Dividends. We have paid quarterly dividends since October 25, 2011. We expect that such quarterly dividends will be paid in the foreseeable future. Prior to October 25, 2011, no cash dividends had been paid on the Company’s common stock. We currently pay a regular quarterly dividend of $0.08 per share. Our 2016 Credit Agreement places limitations on the payment of dividends on our common stock. However, we do not believe that the terms of such agreement currently materially limit our ability to pay a quarterly dividend of $0.08 per share for the foreseeable future. See Note 9 - Debt of the notes to consolidated financial statements included in Item 8. Financial Statements and Supplementary Data for further information regarding our 2016 Credit Agreement.
Securities Authorized for Issuance Under Equity Compensation Plans. The following table summarizes, as of December 31, 2017, certain information regarding equity compensation plans that were approved by stockholders and equity compensation plans that were not approved by stockholders. The information in the table and in the notes thereto has been adjusted for stock splits.
| Equity Compensation Plan Information | |||||||||||
| A | B | C | |||||||||
| Plan Category | Number of Securities to be Issued upon Exercise of Outstanding Options, Warrants and Rights | Weighted Average Exercise Price of Outstanding Options, Warrants and Rights | Number of Securities Remaining Available for Future Issuance under Equity Compensation Plans (Excluding Securities Reflected in Column A) | ||||||||
| Equity Compensation Plans Approved by Security Holders | 699,072 | (1) | $ | 3.26 | (1) | 1,461,316 | (2) | ||||
| Equity Compensation Plans Not Approved by Security Holders | — | — | — | ||||||||
| Total | 699,072 | $ | 3.26 | 1,461,316 |
| (1) | Included within this amount are 606,072 restricted stock units awarded to our non-employee directors and employees. The weighted average exercise price would have been $24.48 had the weighted average exercise price calculation excluded such restricted stock units. |
| (2) | Represents shares of our common stock available for future issuance under our 2010 Incentive Plan (the "2010 Plan"), which may be issuable in respect of options and/or stock appreciation rights granted under the 2010 Plan and/or may also be issued pursuant to the award of restricted stock, unrestricted stock and/or awards that are valued in whole or in part by reference to, or are otherwise based on the fair market value of, our common stock. |
Purchase of Equity Securities by the Issuer and Affiliated Purchasers
The following table summarizes repurchases of our common stock made by us during the quarter ended December 31, 2017:
| Period | Total Number of Shares Purchased(1) | Average Price Paid Per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs | Maximum Number (or Approximate Dollar Value) of Shares That May Yet be Purchased Under the Plan or Programs | ||
| October 1, 2017 to October 31, 2017 | None | None | None | $176,972,856 | ||
| November 1, 2017 to November 30, 2017 | 20,005 | $78.91 | 20,005 | $175,394,253 | ||
| December 1, 2017 to December 31, 2017 | 8,073 | $79.66 | 8,073 | $174,751,129 |
| (1) | On September 26, 2011, our Board of Directors authorized us to repurchase up to $100.0 million of our outstanding common stock. On December 5, 2013, October 23, 2014, October 28, 2015 and October 25, 2017, our Board of Directors authorized us to repurchase up to an additional $100.0 million, $250.0 million, $200.0 million and $100.0 million of our outstanding common stock, respectively. As of December 31, 2017, there remained authorization for us to repurchase approximately $174.8 million of our shares. No shares have been repurchased by us since the programs have been announced other than pursuant to these publicly announced programs. The repurchase programs have no expiration date and do not obligate the Company to acquire any particular amount of common stock and may be suspended, recommenced or discontinued at any time or from time to time without prior notice. We may repurchase our shares from time to time to the extent permitted by securities laws and other legal requirements, including provisions in our credit agreement placing limitations on such repurchases. |
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