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.
Our common stock ($.20 par value per share) trades on the NASDAQ Global Select Market under the symbol TROW. Dividends per share during the past two years were:
| 1st quarter | 2nd quarter | 3rd quarter | 4th quarter | ||||||||||||
| 2019 | $ | .76 | $ | .76 | $ | .76 | $ | .76 | |||||||
| 2018 | $ | .70 | $ | .70 | $ | .70 | $ | .70 |
Our common stockholders have approved all of our equity-based compensation plans. These plans provide for the following issuances of shares of our common stock at December 31, 2019:
| Employee and non-employee director plans | Employee stock purchase plan | Total | |||||||
| Exercise of outstanding options | 7,388,068 | — | 7,388,068 | ||||||
| Settlement of outstanding restricted stock units | 6,775,504 | — | 6,775,504 | ||||||
| Future issuances | 22,213,930 | 1,964,676 | 24,178,606 | ||||||
| Total | 36,377,502 | 1,964,676 | 38,342,178 |
The outstanding options included in the table above have a weighted-average exercise price of $71.06. Under the terms of the 2012 Long-Term Incentive Plan, approved by stockholders in April 2012, the number of shares provided and available for future issuance will increase as we repurchase common stock in the future with the proceeds from stock option exercises. No shares have been issued under our Employee Stock Purchase Plan since its inception; all shares have been purchased in the open market.
The following table presents repurchase activity during the fourth quarter of 2019.
| Month | Total number of shares purchased | Average price paid per share | Total number of shares purchased as part of publicly announced program | Maximum number of shares that may yet be purchased under the program | |||||||||
| October | 1,156,989 | $ | 109.69 | 1,155,593 | 17,500,047 | ||||||||
| November | 108,595 | $ | 120.84 | — | 17,500,047 | ||||||||
| December | 285,389 | $ | 122.63 | 125,000 | 17,375,047 | ||||||||
| Total | 1,550,973 | $ | 112.85 | 1,280,593 |
Shares repurchased by us in a quarter may include repurchases conducted pursuant to publicly announced Board authorizations, outstanding shares surrendered to the company to pay the exercise price in connection with swap exercises of employee stock options and shares withheld to cover the minimum tax withholding obligation associated with the vesting of restricted stock awards. Of the total number of shares purchased during the fourth quarter of 2019, 222,824 were related to shares surrendered in connection with employee stock option exercises and 47,556 were related to shares withheld to cover tax withholdings associated with the vesting of restricted stock awards.
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The following table details the changes in and status of the Board of Directors’ outstanding publicly announced board authorizations.
| Authorization dates | 12/31/2018 | Total Number of Shares Purchased | Maximum Number of Shares that May Yet Be Purchased at 12/31/2019 | ||||||
| April 2018 | 8,655,640 | (1,280,593 | ) | 7,375,047 | |||||
| February 2019 | 10,000,000 | — | 10,000,000 | ||||||
| 18,655,640 | (1,280,593 | ) | 17,375,047 |
We have 7,441 stockholders of record and approximately 290,000 beneficial stockholder accounts held by brokers, banks, and other intermediaries holding our common stock. Common stock owned outright by our associates and directors, combined with outstanding vested stock options and unvested restricted stock awards, total approximately 8% of our outstanding stock and outstanding vested stock options at December 31, 2019.
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