FMC CORP
For the period ended Dec 31, 2023. Filed Feb 27, 2024.
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FY2023 · Filed Feb 27, 2024
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PART II
ITEM 5. MARKET FOR THE REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDERS MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
FMC common stock of $0.10 par value is traded on the New York Stock Exchange (Symbol: FMC). There were 2,101 registered common stockholders as of December 31, 2023.
FMC’s annual meeting of stockholders will be held at 2:00 p.m. on Tuesday, April 30, 2024 via live webcast at https://www.virtualshareholdermeeting.com/FMC2024. Notice of the meeting, together with instructions on how to access proxy materials, will be mailed approximately five weeks prior to the meeting to stockholders of record as of March 4, 2024.
Transfer Agent and Registrar of Stock:
| EQ Shareowner Services | ||
|---|---|---|
| 1110 Centre Pointe Curve, Suite 101 | or | P.O. Box 64874 |
| Mendota Heights, MN 55120-4100 | St. Paul, MN 55164-0874 | |
| (651-450-4064 local and outside the U.S.) | ||
| https://equiniti.com/us/ | ||
Stockholder Return Performance Presentation
The graph that follows shall not be deemed to be incorporated by reference into any filing made by FMC under the Securities Act of 1933 or the Securities Exchange Act of 1934.
The following Stockholder Performance Graph compares the five-year cumulative total return on FMC’s Common Stock with the S&P 500 Index and the S&P 500 Chemicals Index. The comparison assumes $100 was invested on December 31, 2018, in FMC’s Common Stock and in both of the indices, and the reinvestment of all dividends.
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| FMC Corporation | $100.00 | $137.13 | $160.30 | $155.95 | $180.12 | $94.35 |
| S&P 500 Index | 100.00 | 131.22 | 154.95 | 199.12 | 163.22 | 205.79 |
| S&P 500 Chemicals Index | 100.00 | 121.78 | 143.19 | 179.97 | 160.03 | 177.51 |
The following table summarizes information with respect to the purchase of our common stock during the three months ended December 31, 2023:
ISSUER PURCHASES OF EQUITY SECURITIES
| Publicly Announced Program | |||||
|---|---|---|---|---|---|
| Period | Total Number of Shares Purchased (1) | Average Price Paid Per Share | Total Number of Shares Purchased | Total Dollar Amount Purchased | Maximum Dollar Value of Shares that May Yet be Purchased |
| October | 829 | $63.04 | — | $— | $825,000,142 |
| November | 882 | 53.43 | — | — | 825,000,142 |
| December | 726 | 55.88 | — | — | 825,000,142 |
| Total | 2,437 | $57.45 | — | $— | |
(1) Includes shares purchased in open market transactions by the independent trustee of the FMC Corporation Non-Qualified Savings and Investment Plan ("NQSP").
In February 2022, the Board of Directors authorized the repurchase of up to $1 billion of the Company's common stock. The $1 billion share repurchase program replaced in its entirety the previous authorization. In 2023, 651,052 shares were repurchased under the publicly announced repurchase program. At December 31, 2023, approximately $825 million remained unused under our Board-authorized repurchase program. This repurchase program does not include a specific timetable or price targets and may be suspended or terminated at any time. Shares may be purchased through open market or privately negotiated transactions at the discretion of management based on its evaluation of market conditions and other factors. We also reacquire shares from time to time from employees in connection with the vesting, exercise and forfeiture of awards under our equity compensation plans. In addition, the independent trustee of our non-qualified deferred compensation plan reacquires shares from time to time through open-market purchases relating to investments by employees in our common stock, one of the investment options available under the Plan.
As disclosed in more detail under the Outstanding debt caption in the Liquidity and Capital Resources section of this Form 10-K, in connection with an amendment to the Company's credit agreement, the Company agreed that it shall not repurchase shares until September 30, 2025, with the exception of share repurchases under our equity compensation plans.
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