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
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 2017 and 2016:
| Fiscal 2017 | Fiscal 2016 | ||||||||||||||||||
| High | Low | High | Low | ||||||||||||||||
| First quarter | $ | 289.27 | $ | 266.40 | $ | 212.92 | $ | 146.77 | |||||||||||
| Second quarter | 314.86 | 243.61 | 262.12 | 202.28 | |||||||||||||||
| Third quarter | 257.06 | 187.96 | 278.63 | 230.10 | |||||||||||||||
| Fourth quarter | 249.30 | 191.80 | 273.99 | 225.13 | |||||||||||||||
Holders of the registrant’s common stock
The last reported sale price of our common stock on the NASDAQ Global Select Market on March 29, 2018 was $204.27 per share. As of March 29, 2018, we had 42 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 fiscal 2017 or fiscal 2016 nor have any decisions been made to pay a dividend in the 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.
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 fiscal 2017:
| Approximate dollar | ||||||||||
| Total | Total number of | value of shares that may | ||||||||
| number of | shares purchased | yet to be purchased | ||||||||
| shares | Average | as part of publicly | under plans or | |||||||
| purchased | price paid | announced plans | programs | |||||||
| Period | (1) | per share | or programs (2) | (in thousands) (2) | ||||||
| October 29, 2017 to November 25, 2017 | 86,334 | $ | 203.41 | 86,334 | $ | 118,828 | ||||
| November 26, 2017 to December 30, 2017 | 101,241 | 220.08 | 101,078 | 96,582 | ||||||
| December 31, 2017 to February 3, 2018 | 78,184 | 230.32 | 78,184 | 78,575 | ||||||
| 14 weeks ended February 3, 2018 | 265,759 | $ | 217.68 | 265,596 | $ | 78,575 |
| (1) | There were 265,596 shares repurchased as part of our publicly announced share repurchase program during the 14 weeks ended February 3, 2018 and there were 163 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 March 9, 2017, we announced our 2017 share repurchase program pursuant to which the Company may repurchase up to $425.0 million of the Company’s common stock. The 2017 share repurchase program does not have an expiration date and may be suspended or discontinued at any time. As of February 3, 2018, $78.6 million remained available under the $425.0 million 2017 share repurchase program. On March 15, 2018, we announced the 2018 share repurchase program. For additional information on the 2018 share repurchase program see Note 15 to our consolidated financial statements, “Subsequent event.” |
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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 Beauty common stock that may be issued under our equity compensation plans as of February 3, 2018:
| Number of securities | |||||||
| Number of securities | remaining available | ||||||
| to be issued upon | Weighted-average | for future issuance | |||||
| exercise of outstanding | exercise price of | under equity | |||||
| options, warrants | outstanding options, | compensation | |||||
| Plan category | and rights (2) | warrants and rights (3) | plans (4) | ||||
| Equity compensation plans approved by security holders (1) | 977,476 | $ | 147.76 | 3,726,889 |
| (1) | Includes options issued and available for exercise and shares available for issuance in connection with past awards under the Amended and Restated 2011 Incentive Award Plan and predecessor equity incentive plans. We currently grant awards only under the Amended and Restated 2011 Incentive Award Plan. |
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| (2) | Includes 765,536 shares issuable pursuant to the exercise of outstanding stock options, 133,705 shares issuable pursuant to restricted stock units and 78,235 shares issuable pursuant to performance-based 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 or performance-based 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 Amended and Restated 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 and performance-based 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 Beauty’s common stock with the NASDAQ Global Select Market Composite Index (NQGS) and the S&P Retail Index (RLX) for the period covering February 2, 2013 through the end of Ulta Beauty’s fiscal year ended February 3, 2018. The graph assumes an investment of $100 made at the closing of trading on February 2, 2013 in (i) Ulta Beauty’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.

| Fiscal year ended | ||||||||||||||||||
| February 2, | February 1, | January 31, | January 30, | January 28, | February 3, | |||||||||||||
| Company / Index | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | ||||||||||||
| Ulta Beauty | $ | 100.00 | $ | 87.07 | $ | 134.88 | $ | 185.21 | $ | 278.35 | $ | 227.05 | ||||||
| NQGS | 100.00 | 130.22 | 147.66 | 147.86 | 179.82 | 237.68 | ||||||||||||
| RLX | 100.00 | 124.27 | 147.57 | 170.53 | 199.22 | 286.56 |
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