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
Common Stock Information
Our common stock is traded on the Nasdaq Global Select Market (“Nasdaq”) under the symbol ODFL. At February 18, 2021, there were 123,513 holders of our common stock, including 103 shareholders of record.
The following table provides information regarding our repurchases of our common stock during the fourth quarter of 2020:
| ISSUER PURCHASES OF EQUITY SECURITIES | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Number of Shares Purchased | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Programs | Approximate Dollar Value of Shares that May Yet Be Purchased Under the Programs | |||||||||||||
| October 1-31, 2020 | — | $ | — | — | $ | 612,499,955 | ||||||||||
| November 1-30, 2020 (1) | 172,007 | $ | 202.91 | 172,007 | $ | 575,000,000 | ||||||||||
| December 1-31, 2020 | 98,558 | $ | 200.56 | 98,558 | $ | 555,233,528 | ||||||||||
| Total | 270,565 | $ | 202.05 | 270,565 |
(1) The total number of shares purchased includes the final settlement of 172,007 shares of our common stock under our Accelerated Share Repurchase Agreement (the “ASR Agreement”) entered into with a third-party financial institution on May 29, 2020 as part of our 2020 Repurchase Program (as defined below). This delivery of shares and their market price at time of delivery are included in the table above. The final number of shares received was based on the daily volume-weighted average share price during the term of the ASR Agreement, less a negotiated discount.
On May 1, 2020, we announced that our Board of Directors had approved a new two-year stock repurchase program authorizing us to repurchase up to an aggregate of $700.0 million of our outstanding common stock (the “2020 Repurchase Program”). The 2020 Repurchase Program became effective upon the termination of our $350.0 million repurchase program on May 29, 2020, as of which date $21.5 million remained authorized under the prior program. Under the 2020 Repurchase Program, we may repurchase shares from time to time in open market purchases or through privately negotiated transactions. Shares of our common stock repurchased under our repurchase programs are canceled at the time of repurchase and are classified as authorized but unissued shares of our common stock.
Performance Graph
The following graph compares the total shareholder cumulative returns, assuming the reinvestment of all dividends, of $100 invested on December 31, 2015, in (i) our common stock, (ii) the S&P 500 Total Return Index, and (iii) the Nasdaq Industrial Transportation Index, for the five-year period ended December 31, 2020.
Cumulative Total Return
| 12/31/15 | 12/31/16 | 12/31/17 | 12/31/18 | 12/31/19 | 12/31/20 | |||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Old Dominion Freight Line, Inc. | $ | 100 | $ | 145 | $ | 223 | $ | 209 | $ | 321 | $ | 496 | ||||||||||||
| S&P 500 Total Return Index | $ | 100 | $ | 112 | $ | 136 | $ | 130 | $ | 171 | $ | 203 | ||||||||||||
| Nasdaq Industrial Transportation Index | $ | 100 | $ | 129 | $ | 165 | $ | 150 | $ | 189 | $ | 247 |
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