Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

Our common stock is listed on The NASDAQ Stock Market LLC under the symbol “NTRS.” There were 1,582 shareholders of record as of January 31, 2022.

The following table shows certain information relating to the Corporation’s purchases of common stock for the three months ended December 31, 2021.

TABLE 3: REPURCHASES OF COMMON STOCK IN THE FOURTH QUARTER OF 2021


PERIOD	TOTAL NUMBER OF SHARES PURCHASED	AVERAGE PRICE PAID PER SHARE		TOTAL NUMBER OF SHARES PURCHASED AS PART OF A PUBLICLY ANNOUNCED PLAN	MAXIMUM NUMBER OF SHARES THAT MAY YET BE PURCHASED UNDER THE PLAN
October 1 - 31, 2021	—	$	—	—	25,000,000
November 1 - 30, 2021	—	—		—	25,000,000
December 1 - 31, 2021	—	—		—	25,000,000
Total (Fourth Quarter)	—	$	—	—	25,000,000

Repurchases prior to October 19, 2021 were made pursuant to the repurchase program announced by the Corporation on July 17, 2018, under which the Corporation’s Board of Directors authorized the Corporation to repurchase up to 25.0 million shares of the Corporation’s common stock. On October 19, 2021, this program was terminated and replaced with a new repurchase program, under which the Corporation’s Board of Directors authorized the Corporation to repurchase up to 25.0 million shares of the Corporation’s common stock. The repurchase authorization approved by the Board of Directors has no expiration date, thus the Corporation retains the ability to repurchase when circumstances warrant and applicable regulation permits. For more information, please refer to Note 15, “Stockholders’ Equity,” provided in Item 8, “Financial Statements and Supplementary Data.”



28 2021 Annual Report \| Northern Trust Corporation

COMPARISON OF FIVE-YEAR CUMULATIVE TOTAL RETURN

The following graph compares the cumulative total stockholder return on the Corporation’s common stock to the cumulative total return of the S&P 500 Index and the KBW Bank Index for the five fiscal years ended December 31, 2021. The cumulative total stockholder return assumes the investment of $100 in the Corporation’s common stock and in each index on December 31, 2016 and assumes reinvestment of dividends. The KBW Bank Index is a modified-capitalization-weighted index made up of 24 of the largest banking companies in the United States. The Corporation is included in the S&P 500 Index and the KBW Bank Index.

Total Return Assumes $100 Invested on

December 31, 2016 with Reinvestment of Dividends


	DECEMBER 31,
	2016		2017		2018		2019		2020		2021
Northern Trust	$	100	$	114	$	97	$	127	$	115	$	152
S&P 500	100		122		116		153		181		233
KBW Bank Index	100		119		98		133		119		165

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