filings.toolsItem 5. MARKET FOR THE REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
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Item 5. MARKET FOR THE REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
The following disclosures included in Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations are incorporated herein by reference:
| Page(s) | |||||
| Discussion of dividends in the section captioned “Capital — Dividends” | 68 | ||||
| Discussion of our common shares, shareholder information, and repurchase activities in the section captioned “Capital — Common Shares outstanding” | 68 |
The following graph compares the price performance of our Common Shares (based on an initial investment of $100 on December 31, 2017, and assuming reinvestment of dividends) with that of the S&P 500 Index and a group of other banks that constitute our peer group. The peer group consists of the banks that make up the S&P 500 Regional Bank Index and the banks that make up the Standard & Poor’s 500 Diversified Bank Index. We are included in the S&P 500 Index and the peer group. Share price performance is not necessarily indicative of future price performance.
From time to time, KeyCorp or its principal subsidiary, KeyBank, may seek to retire, repurchase, or exchange outstanding debt of KeyCorp or KeyBank, and capital securities or preferred stock of KeyCorp, through cash purchase, privately negotiated transactions, or otherwise. Such transactions, if any, depend on prevailing market conditions, our liquidity and capital requirements, contractual restrictions, and other factors. The amounts involved may be material.
As part of our previous 2021 capital plan, which was effective through the third quarter of 2022, the Board had authorized the repurchase of up to $1.5 billion of our Common Shares. In September 2022, the Board approved the extension of the previous authorization through the third quarter of 2023.
The following table summarizes our repurchases of our Common Shares for the three months ended December 31, 2022.
| Calendar month | Total number of shares repurchased**(a)** | Average price paid per share | Total number of shares purchased as part of publicly announced plans or programs**(a)** | Dollar value of shares that may yet be purchased as part of publicly announced plans or programs | ||||||||||
| October 1 - 31 | — | $ | — | — | $ | 745,991,117 | ||||||||
| November 1 - 30 | — | — | — | 745,991,117 | ||||||||||
| December 1 - 31 | 2,401 | 17.89 | 2,401 | 745,948,169 | ||||||||||
| Total | 2,401 | $ | 17.89 | 2,401 | ||||||||||
(a)Includes Common Shares deemed surrendered by employees in connection with our stock compensation and benefit plans to satisfy tax obligations.
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