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 2,165 stockholders of record as of August 16, 2023, 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 market close on July 3, 2017 (the last trading day before the beginning of our fifth preceding fiscal year) through July 1, 2023. 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 2023 (in millions, except share and per share amounts):
| Period | Total number of shares purchased (1) (2) | Average price paid per share (3) | Total number of shares purchased as part of publicly announced plans or programs (2) | Maximum number (or approximation dollar value) of shares that may yet be purchased under the plans or programs | ||||||||||||||||||||||
| April 2, 2023 to April 29, 2023 | — | $ | — | — | $ | 584.5 | ||||||||||||||||||||
| April 30, 2023 to May 27, 2023 | 337,437 | $ | 43.99 | 337,437 | $ | 569.6 | ||||||||||||||||||||
| May 28, 2023 to July 1, 2023 (2) | 2,336,485 | $ | 53.49 | 2,336,485 | $ | 569.6 | ||||||||||||||||||||
| Total | 2,673,922 | $ | 52.29 | 2,673,922 | $ | 569.6 |
(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. 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. On April 5, 2023, our board of directors approved a further increase in our share buyback program, which authorizes us to use up to an aggregate amount of $1.2 billion (an increase from $1.0 billion) to purchase our own shares of common stock through May 2025, but may be suspended or terminated at any time.
(2) Separate from our share buyback program and concurrent with the issuance of the 2029 Notes, we repurchased approximately 2.3 million shares of our common stock in privately negotiated transactions in the fourth quarter of fiscal 2023. The average price paid was approximately $53.49 per share for an aggregate purchase price of approximately $125.0 million. These shares were retired immediately.
(3) Average price paid per share includes costs associated with the repurchases.
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