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
Our common stock trades on the NASDAQ Stock Market under the symbol “LITE”. According to records of our transfer agent, we had 2,389 stockholders of record as of August 17, 2022 and we believe there is a substantially greater number of beneficial holders.
We do not expect to pay cash dividends on our common stock in the foreseeable future.
Stock Performance Graph
This performance graph shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the Exchange Act), or incorporated by reference into any filing of Lumentum Holdings Inc. under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
The following graph compares the cumulative total return of our common stock with the total return for the NASDAQ Composite Index (the “IXIC”) and the NASDAQ 100 Technology Sector Index (the “NDXT”) from July 3, 2016 through July 2, 2022. The stock price performance on the following graph is not necessarily indicative of future stock price performance.
Recent Sale of Unregistered Equity Securities
None.
Issuer Purchases of Equity Securities
The following table sets forth issuer purchases of equity securities for the fourth quarter of fiscal 2022 (in millions, except share and per share amounts):
| Period | Total number of shares purchased (1) | Average price paid per share (2) | Total number of shares purchased as part of publicly announced plans or programs | Maximum number (or approximation dollar value) of shares that may yet be purchased under the plans or programs | ||||||||||||||||||||||
| April 3, 2022 to April 30, 2022 | — | $ | — | — | $ | 513.5 | ||||||||||||||||||||
| May 1, 2022 to May 28, 2022 | 304,000 | $ | 86.34 | 304,000 | $ | 487.2 | ||||||||||||||||||||
| May 29, 2022 to July 2, 2022 | 961,200 | $ | 80.13 | 961,200 | $ | 410.2 | ||||||||||||||||||||
| Total | 1,265,200 | $ | 81.62 | 1,265,200 | $ | 410.2 |
(1) On May 7, 2021, our board of directors approved the 2021 share buyback program, which authorizes us to use up to $700.0 million to purchase our own shares of common stock. The buyback program was authorized for 2 years. On March 3, 2022, our board of directors approved an increase in our share buyback program, which authorizes us to use up to an aggregate amount of $1.0 billion (an increase from $700.0 million) to purchase our own shares of common stock through May 2024. The share buyback program may be suspended or terminated by the board of directors at any time.
(2) Average price paid per share includes costs associated with the repurchases.
Separate from the 2021 share buyback program and concurrent with the issuance of the 2028 Notes, we repurchased 2.0 million shares of our common stock in privately negotiated transactions in the third quarter of fiscal 2022. The average price paid was $99.00 per share for an aggregate purchase price of $200.0 million. These shares were retired immediately.
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