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
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Market information
Our common stock has traded on the NASDAQ Global Select Market under the symbol “ULTA” since October 25, 2007. Our initial public offering was priced at $18.00 per share. The following table sets forth the high and low sales prices for our common stock on the NASDAQ Global Select Market during fiscal years 2014 and 2013:
| Fiscal Year 2014 | High | Low | ||||||
| First quarter | $ | 104.30 | $ | 83.50 | ||||
| Second quarter | 97.11 | 84.79 | ||||||
| Third quarter | 121.56 | 92.45 | ||||||
| Fourth quarter | 136.08 | 118.66 |
| Fiscal Year 2013 | High | Low | ||||||
| First quarter | $ | 99.66 | $ | 73.96 | ||||
| Second quarter | 103.47 | 84.13 | ||||||
| Third quarter | 128.85 | 97.24 | ||||||
| Fourth quarter | 131.50 | 80.93 |
Holders of the registrant’s common stock
The last reported sale price of our common stock on the NASDAQ Global Select Market on March 26, 2015 was $150.01 per share. As of March 26, 2015, we had 49 holders of record of our common stock. Because many shares of common stock are held by brokers and other institutions on behalf of stockholders, we are unable to estimate the total number of stockholders represented by these record holders.
Dividends
No cash dividends were declared on our common stock in 2014 or 2013 nor have any decisions been made to pay a dividend in the foreseeable future. Our Board of Directors may determine future dividends after giving consideration to our levels of profit and cash flow, capital requirements, current and future liquidity, restrictions as part of our credit facility as well as financial and other conditions existing at the time.
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Purchases of equity securities by the issuer and affiliated purchasers
The following table sets forth repurchases of our common stock during the fourth quarter of 2014:
| Period | Total number of shares purchased(2) | Average price paid per share | Total number of shares purchased as part of publicly announced plans or programs(1) | Approximate dollar value of shares that may yet to be purchased under plans or programs (in thousands)(2) | ||||||||||||
| November 2, 2014 to November 29, 2014 | 70,802 | $ | 123.66 | 70,802 | $ | 281,271 | ||||||||||
| November 30, 2014 to December 27, 2014 | 72,161 | 127.32 | 72,161 | 272,082 | ||||||||||||
| December 28, 2014 to January 31, 2015 | 92,260 | 130.11 | 92,260 | 260,076 | ||||||||||||
| 13 weeks ended January 31, 2015 | 235,223 | 127.31 | 235,223 | 260,076 | ||||||||||||
| (1) | There were 235,223 shares repurchased as part of our publicly announced share repurchase program during the three months ended January 31, 2015 and there were no shares transferred from employees in satisfaction of minimum statutory tax withholding obligations upon the vesting of restricted stock during the period. |
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| (2) | On September 11, 2014, we announced that our Board of Directors authorized a new share repurchase program (the 2014 Share Repurchase Program) pursuant to which the Company may repurchase up to $300 million of the Company’s common stock. The 2014 Share Repurchase Program authorization revokes the previously authorized but unused amounts of $112.7 million from the 2013 Share Repurchase Program. The 2014 Share Repurchase Program does not have an expiration date and may be suspended or discontinued at any time. As of January 31, 2015, $260.1 million remained available under the $300 million 2014 Share Repurchase Program. On March 12, 2015, we announced that our Board of Directors authorized an increase of $100 million to the 2014 Share Repurchase Program effective March 17, 2015. |
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Recent sales of unregistered securities
None.
Securities authorized for issuance under equity compensation plans
The following table provides information about Ulta common stock that may be issued under our equity compensation plans as of January 31, 2015.
| Plan category | Number of securities to be issued upon exercise of outstanding options, warrants and rights(2) | Weighted-average exercise price of outstanding options, warrants and rights(3) | Number of securities remaining available for future issuance under equity compensation plans(4) | |||||||||
| Equity compensation plans approved by security holders(1) | 1,223,314 | $ | 72.12 | 4,408,748 | ||||||||
| Equity compensation plans not approved by security holders | — | — | — | |||||||||
| Total | 1,223,314 | $ | 72.12 | 4,408,748 | ||||||||
| (1) | Includes options issued and available for exercise and shares available for issuance in connection with past awards under the 2011 Incentive Award Plan and predecessor equity incentive plans. We currently grant awards only under the 2011 Incentive Award Plan. |
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| (2) | Includes 1,072,717 shares issuable pursuant to the exercise of outstanding stock options and 150,597 shares issuable pursuant to restricted stock units. |
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| (3) | Calculation of weighted-average exercise price of outstanding awards includes stock options, but does not include shares of restricted stock units that convert to shares of common stock for no consideration. |
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| (4) | Represents shares that are available for issuance pursuant to the 2011 Incentive Award Plan. The shares available under the plan are reduced by 1.0 for each stock option awarded and by 1.5 for each restricted stock unit awarded. |
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Stock performance graph
The following performance graph and related information shall not be deemed “soliciting material” or to be “filed” with the SEC, nor shall such information be incorporated by reference into any future filing under the Securities Act of 1933 or Securities Exchange Act of 1934, each as amended, except to the extent that we specifically incorporate it by reference into such filing.
Set forth below is a graph comparing the cumulative total stockholder return on Ulta’s common stock with the NASDAQ Global Select Market Composite Index (NQGS) and the S&P Retail Index (RLX) for the period covering January 29, 2010 through the end of Ulta’s fiscal year ended January 31, 2015. The graph assumes an investment of $100 made at the closing of trading on January 29, 2010, in (i) Ulta’s common stock, (ii) the stocks comprising the NQGS and (iii) stocks comprising the RLX. All values assume reinvestment of the full amount of all dividends, if any, into additional shares of the same class of equity securities at the frequency with which dividends are paid on such securities during the applicable time period.
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