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 our Class A Common Stock
Our Class A common stock commenced trading under the symbol “SBAC” on The NASDAQ National Market System on June 16, 1999. We now trade on the NASDAQ Global Select Market, a segment of the NASDAQ Global Market, formally known as the NASDAQ National Market System.
The following table presents the high and low sales price for our Class A common stock for the periods indicated:
| High | Low | |||||
| Quarter ended December 31, 2015 | $ | 121.45 | $ | 100.12 | ||
| Quarter ended September 30, 2015 | $ | 128.47 | $ | 102.65 | ||
| Quarter ended June 30, 2015 | $ | 124.98 | $ | 111.58 | ||
| Quarter ended March 31, 2015 | $ | 126.65 | $ | 107.53 | ||
| Quarter ended December 31, 2014 | $ | 122.79 | $ | 103.83 | ||
| Quarter ended September 30, 2014 | $ | 114.37 | $ | 99.70 | ||
| Quarter ended June 30, 2014 | $ | 102.57 | $ | 87.03 | ||
| Quarter ended March 31, 2014 | $ | 99.64 | $ | 87.29 |
As of February 19, 2016, there were 92 record holders of our Class A common stock.
Dividends
We have never paid a dividend on any class of common stock and anticipate that we will retain future earnings, if any, to fund the development and growth of our business. Consequently, we do not anticipate paying cash dividends on our Class A common stock in the foreseeable future. In addition, our ability to pay dividends is limited by the terms of our debt instruments.
Issuer Purchases of Equity Securities
The following table presents information related to our repurchases of Class A common stock during the fourth quarter of 2015:
| Total | Total Number of Shares | Approximate Dollar Value | ||||||||
| Number | Average | Purchased as Part of | of Shares that May Yet Be | |||||||
| of Shares | Price Paid | Publicly Announced | Purchased Under the | |||||||
| Period | Purchased | Per Share | Plans or Programs (1) | Plans or Programs | ||||||
| 10/1/2015 - 10/31/2015 | — | $ | — | — | $ | 750,002,750 | ||||
| 11/1/2015 - 11/30/2015 | 184,215 | $ | 103.86 | 184,215 | $ | 730,869,600 | ||||
| 12/1/2015 - 12/31/2015 | 297,781 | $ | 103.66 | 297,781 | $ | 700,002,810 | ||||
| Total | 481,996 | $ | 103.74 | 481,996 | $ | 700,002,810 |
| (1) | On June 4, 2015, we announced a new $1.0 billion stock repurchase plan. This plan authorizes us to purchase from time to time our outstanding common stock through open market repurchases in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended, and/or in privately negotiated transactions at management’s discretion. Shares purchased will be retired. This plan has no time deadline and will continue until otherwise modified or terminated by our Board at any time in our sole discretion. |
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Equity Compensation Plan
| Equity Compensation Plan Information | ||||||||||
| (in thousands except exercise price) | ||||||||||
| Number of Securities | ||||||||||
| Number of Securities | Weighted Average | Remaining Available for | ||||||||
| to be Issued | Exercise Price | Future Issuance Under | ||||||||
| Upon Exercise of | of Outstanding | Equity Compensation Plans | ||||||||
| Outstanding Options, | Options, Warrants | (Excluding Securities | ||||||||
| Warrants and Rights | and Rights | Reflected in first column (a)) | ||||||||
| (a) | (b) | (c) | ||||||||
| Equity compensation plans approved by | ||||||||||
| security holders | ||||||||||
| 2001 Plan (1) | 346 | $ | 29.97 | — | ||||||
| 2010 Plan | 3,724 | (2) | $ | 83.45 | 10,188 | |||||
| Equity compensation plans not approved by | ||||||||||
| security holders | — | — | ||||||||
| Total | 4,070 | $ | 78.90 | 10,188 |
(1)This plan has been terminated, and we are no longer eligible to issue shares pursuant to the plan.
(2)Included in the number of securities in column (a) is 277,153 restricted stock units, which have no exercise price. The weighted average exercise price of outstanding options, warrants, and rights (excluding restricted stock units) is $90.15.
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