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
MARKET FOR REGISTRANT'S COMMON EQUITY
Our common stock has been listed on The NASDAQ Global Market under the trading symbol “PODD” since our initial public offering on May 15, 2007. The following table sets forth the high and low closing sales prices of our common stock, as reported by The NASDAQ Global Market, for each of the periods listed.
| High | Low | ||||||
| Fiscal Year 2017 | |||||||
| First Quarter | $ | 47.22 | $ | 36.98 | |||
| Second Quarter | $ | 51.31 | $ | 39.10 | |||
| Third Quarter | $ | 59.46 | $ | 49.49 | |||
| Fourth Quarter | $ | 71.80 | $ | 55.67 | |||
| Fiscal Year 2018 | |||||||
| First Quarter | $ | 87.20 | $ | 68.49 | |||
| Second Quarter | $ | 101.93 | $ | 83.27 | |||
| Third Quarter | $ | 108.13 | $ | 81.43 | |||
| Fourth Quarter | $ | 105.19 | $ | 73.27 |
As of February 20, 2019, there were approximately 8 registered holders of record of our common stock. The number of beneficial stockholders of our shares is greater than the number of stockholders of record.
Performance Graph
The chart set forth below shows the value of an investment of $100 on December 31, 2013 in each of Insulet Corporation common stock, the NASDAQ Composite Index, and the NASDAQ Health Care Index. All values assume reinvestment of the pre-tax value of dividends paid by companies included in these indices and are calculated as of December 31, 2018. The historical stock price performance of our common stock shown in the performance graph below is not necessarily indicative of future stock price performance.
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | |||||||||||||
| Insulet Corporation | $ | 100 | $ | 124 | $ | 102 | $ | 102 | $ | 186 | $ | 214 | ||||||
| NASDAQ Composite | 100 | 115 | 123 | 133 | 172 | 166 | ||||||||||||
| NASDAQ Health Care | 100 | 129 | 135 | 111 | 133 | 126 |
The material in this performance graph is not soliciting material, is not deemed filed with the Securities and Exchange Commission (“SEC”) and is not incorporated by reference in any filing of Insulet Corporation under the Securities Act of 1933, as amended (the “Securities Act”) or the Exchange Act of 1934, as amended, whether made on, before or after the date of this filing and irrespective of any general incorporation language in such filing.
Dividend Policy
We currently intend to retain future earnings for the development, operation and expansion of our business and do not anticipate paying any cash dividends in the foreseeable future.
Securities Authorized For Issuance Under Equity Compensation Plans
The following table sets forth information regarding securities authorized for issuance under our equity compensation plans as of December 31, 2018.
| Plan Category | Number of securities to be issued upon exercise of outstanding options, warrants and rights (a) | Weighted average exercise price of outstanding options, warrants and rights (b) | Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)) (c) | |||||||
| Equity compensation plans approved by security holders(1) | 2,398,286 | $ | 40.38 | 4,439,383 | ||||||
| Equity compensation plans not approved by security holders(2) | 679,338 | $ | 34.87 | — | ||||||
| Total | 3,077,624 | $ | 39.16 | 4,439,383 |
(1) Includes our Amended and Restated 2017 and 2007 Stock Option and Incentive Plans. Outstanding restricted stock units convert to common stock without the payment of consideration. As of December 31, 2018, 752,207 restricted stock units were outstanding. The weighted-average exercise price of outstanding options as of such date issued under these Plans (excluding restricted stock units) was $40.38. For more information relating to our equity compensation plans, see Note 15 to our consolidated financial statements.
(2) Consists of the following inducement grants made to certain executive officers upon their initial hire by us:
| • | one inducement grant of 499,468 shares of non-qualified stock option awards made to Patrick J. Sullivan upon being hired by us in September 2014; |
| • | one inducement grant of 79,936 non-qualified stock options made to Shacey Petrovic upon being hired by us in February 2015; |
| • | one inducement grant of 58,852 non-qualified stock options made to Michael Levitz upon being hired by us in May 2015; |
| • | one inducement grant of 29,581 non-qualified stock options made to David Colleran (1,849 of which have been exercised as of December 31, 2018) upon being hired by us in June 2015; and |
| • | one inducement grant of 30,511 non-qualified stock options made to Michael Spears (17,161 of which have been exercised as of December 31, 2018) upon being hired by us in July 2015. |
These non-qualified stock option awards were granted outside of our Amended and Restated 2007 Stock Option and Incentive Plan in compliance with Nasdaq Listing Rule 5635.
Issuer Repurchases of Equity Securities
We did not repurchase any of our equity securities during the quarter ended December 31, 2018, nor issue any securities that were not registered under Securities Act.
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
None.
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