Item 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
2020	$	.90	$	.90	$	.90	$	.90
2019	$	.76	$	.76	$	.76	$	.76

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, 2020:


	Employee and non-employee director plans	Employee stock purchase plan	Total
Exercise of outstanding options	4,329,056	—	4,329,056
Settlement of outstanding restricted stock units	6,443,411	—	6,443,411
Future issuances	11,085,553	1,602,666	12,688,219
Total	21,858,020	1,602,666	23,460,686

The outstanding options included in the table above have a weighted-average exercise price of $72.52. Under the terms of the 2020 Long-Term Incentive Plan, approved by stockholders in May 2020, and the 2012 Long-Term Incentive Plan, 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 2020.


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	56,706	$	144.31	300	21,612,258
November	10,934	$	140.14	—	21,612,258
December	188,090	$	148.11	144,947	21,467,311
Total	255,730	$	147.33	145,247

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 2020, 110,483 were related to shares surrendered in connection with employee stock option exercises and none 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	12/31/2019	Additional shares authorized	Total Number of Shares Purchased	Maximum Number of Shares that May Yet Be Purchased at 12/31/2020

April 2018	7,375,047	—	(7,375,047)	—
February 2019	10,000,000	—	(3,532,689)	6,467,311
March 2020	—	15,000,000	—	15,000,000
	17,375,047	15,000,000	(10,907,736)	21,467,311

We have 7,649 stockholders of record and approximately 360,000 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, 2020.

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