DAILY JOURNAL CORP
For the period ended Sep 30, 2024. Filed Dec 31, 2024.
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FY2024 · Filed Dec 31, 2024
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Item 4. Mine Safety Disclosures
Not applicable.
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Part II
The following table sets forth the sales prices of the Company’s common stock for the periods indicated. Quotations are as reported by the NASDAQ Capital Market.
| High | Low | |
|---|---|---|
| Quarter ended December 31, 2023 | $357.34 | $286.05 |
| Quarter ended March 31, 2024 | 402.95 | 309.22 |
| Quarter ended June 30, 2024 | 394.50 | 333.29 |
| Quarter ended September 30, 2024 | 512.49 | 387.00 |
| Quarter ended December 31, 2022 | $311.39 | $245.54 |
| Quarter ended March 31, 2023 | 315.23 | 258.00 |
| Quarter ended June 30, 2023 | 297.75 | 270.05 |
| Quarter ended September 30, 2023 | 315.50 | 282.50 |
As of December 16, 2024, there were approximately 298 holders of record of the Company’s common stock, and the last trade was at $577.94 per share.
The Company did not declare or pay any dividends during fiscal 2024 or 2023. A determination by the Company whether or not to pay dividends in the future will depend on numerous factors, including the Company’s earnings, cash flow, financial condition, capital requirements, future prospects, acquisition opportunities, and other relevant factors. The Board of Directors does not expect that the Company will pay any dividends or other distributions to shareholders in the foreseeable future.
During fiscal 2024, the Company started a 2024 Equity Incentive Plan (the “Plan”) and granted the Company’s Chairman and Chief Executive Officer, Steven Myhill-Jones, 400 fully vested shares of the Company’s common stock and 400 restricted stock units in July 2024. Fifty-percent of the restricted stock units shall become vested on each of the first two anniversaries of the grant date so long as Mr. Myhill-Jones is then continuing to provide service to the Company, with vesting to be accelerated if he is terminated by the Company without Cause (as defined in the Plan). The Company did not have any equity compensation plans in fiscal 2023, and it did not sell any securities, whether or not registered under the Securities Act of 1933, during the past two fiscal years.
From time to time, the Company has repurchased shares of its common stock and may do so in the future. The Company maintains a common stock repurchase program that was implemented in 1987 in combination with the Company’s Management Incentive Plan. See Note 2 of Notes to Consolidated Financial Statements for more information. The Company’s stock repurchase program remains in effect, but the Company did not repurchase any shares during fiscal 2024 and 2023.
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