Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Our common stock is traded on the New York Stock Exchange under the symbol "EQT."

As of February 4, 2022, there were 1,927 shareholders of record of our common stock.

On February 3, 2022, our Board of Directors declared a quarterly cash dividend of $0.125 per share, payable on March 1, 2022, to shareholders of record at the close of business on February 14, 2022.

The amount and timing of dividends declared and paid by us, if any, are subject to the discretion of our Board of Directors and depends on business conditions, such as our results of operations and financial condition, strategic direction and other factors. Our Board of Directors have the discretion to change the annual dividend rate at any time for any reason.

Recent Sales of Unregistered Securities

The following table sets forth our repurchases of equity securities registered under Section 12 of the Exchange Act that have occurred during the three months ended December 31, 2021.

(a)Excludes any fees, commissions or other expenses associated with the share repurchases.

(b)On December 13, 2021, we announced that our Board of Directors approved a share repurchase program to repurchase shares of our outstanding common stock for an aggregate purchase price up to $1 billion, excluding fees, commissions and expenses. Pursuant to the share repurchase authority, we may repurchase shares from time to time in open market or in privately negotiated transactions. The share repurchase authority does not obligate us to acquire any specific number of shares, was effective immediately and is valid through December 31, 2023. As of December 31, 2021, we had purchased shares for an aggregate purchase price of $29.4 million, excluding fees, commissions and expenses, under this authorization since its inception. The total number of shares purchased and the approximate dollar value of shares that may yet be purchased under our repurchase authority reported reflect shares purchased in December 2021 (based on the trade date) that did not settle until January 2022.

Stock Performance Graph

The following graph compares the most recent cumulative five-year total return provided to shareholders of our common stock relative to the cumulative five-year total returns of the S&P 500 Index, the S&P MidCap 400 Index and two customized peer groups, the 2020 Self-Constructed Peer Group and 2021 Self-Constructed Peer Group, whose company composition is discussed in footnotes (a) and (b), respectively, below. Our common stock was included in the S&P 500 Index until the Separation (defined and discussed in Note 9 to the Consolidated Financial Statements) and Distribution in 2018, following which our common stock was added to the S&P MidCap 400 Index. We have presented both indices for comparison in the following graph. An investment of $100, with reinvestment of all dividends, is assumed to have been made in our common stock, in the S&P 500 Index, the S&P MidCap 400 Index and in each of the peer groups on December 31, 2016 and its relative performance is tracked through December 31, 2021. Historical prices prior to the Separation and Distribution have been adjusted to reflect the value of the Separation and Distribution. The stock price performance shown in the graph below is not necessarily indicative of future stock price performance.

*$100 invested on 12/31/16 in stock, index, or peer group, including reinvestment of dividends.

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(a)The 2020 Self-Constructed Peer Group includes the following eight companies: Antero Resources Corp., Chesapeake Energy Corp., CNX Resources Corp., Comstock Resources, Inc., Coterra Energy Inc. (formerly Cabot Oil & Gas Corp.), Gulfport Energy Corp., Range Resources Corp. and Southwestern Energy Co. The 2020 Self-Constructed Peer Group is comprised of the companies included in our 2020 performance peer group, as selected by the Management Development and Compensation Committee of the Board of Directors for purposes of evaluating our relative total shareholder return under the 2020 Incentive Performance Share Unit Program.

(b)The 2021 Self-Constructed Peer Group includes the following eleven companies: Antero Resources Corp., Apache Corp., CNX Resources Corp., Comstock Resources, Inc., Continental Resources, Inc., Coterra Energy Inc., Devon Energy Corp., Murphy Oil Corp., Ovintiv Inc., Range Resources Corp. and Southwestern Energy Co. The 2021 Self-Constructed Peer Group is comprised of the companies included in our 2021 performance peer group (with the exception of Cimarex Energy Co., which was excluded for purposes of the stock performance graph because it was acquired by Cabot Oil & Gas Corp. in October 2021 thereby forming Coterra Energy Inc.), as selected by the Management Development and Compensation Committee of the Board of Directors for purposes of evaluating our relative total shareholder return under the 2021 Incentive Performance Share Unit Program.