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
Company Stock Performance
Our common stock trades on NASDAQ under the symbol “TRMB.” The following graph compares the cumulative five-year total return provided stockholders on our common stock relative to the cumulative total returns of the NASDAQ Composite Index and the S&P 500 Information Technology Index. An investment of $100 (with reinvestment of all dividends) is assumed to have been made in our common stock and in each of the indexes on December 31, 2015, and its relative performance is tracked through December 31, 2020.
Stock Repurchase Program
The following table provides information relating to our purchase of equity securities for the fourth quarter of fiscal 2020:
| Total Number of Shares Purchased | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Program | Maximum Approximate Dollar Value of Shares that May Yet Be Purchased Under the Program | ||||||||||||||||||||||||||
| October 3, 2020 – November 6, 2020 | 41,818 | $ | 47.83 | 41,818 | $ | 92,361,073 | |||||||||||||||||||||||
| November 7, 2020 – December 4, 2020 | 4,700 | $ | 61.77 | 4,700 | $ | 92,070,742 | |||||||||||||||||||||||
| December 5, 2020 – January 1, 2021 | 21,666 | $ | 61.97 | 21,666 | $ | 90,728,167 | |||||||||||||||||||||||
| Total | 68,184 | 68,184 |
In November 2017, our Board of Directors approved a stock repurchase program (“2017 Stock Repurchase Program”), authorizing us to repurchase up to $600.0 million of our common stock. The 2017 Stock Repurchase Program does not have an expiration date. The timing and amount of repurchase transactions is determined by our management based on the evaluation of market conditions, share price, legal requirements, and other factors. The program may be suspended, modified, or discontinued at any time without public notice.
During fiscal 2020, we repurchased approximately 1.9 million shares of common stock in open market purchases under the 2017 Stock Repurchase Program, at an average price of $43.40 per share, for a total of $81.6 million. At the end of fiscal 2020, the 2017 Stock Repurchase Program had remaining authorized funds of $90.7 million.
As of February 24, 2021, there were approximately 536 holders of record of our common stock.
Dividend Policy
We have not declared or paid any cash dividends on our common stock during any period for which financial information is provided in this Annual Report on Form 10-K. At this time, we intend to retain future earnings, if any, to fund the development and growth of our business and do not anticipate paying any cash dividends on our common stock in the foreseeable future.
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