Avid 2014 Annual Report Download - page 31

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25
PART II
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY AND RELATED STOCKHOLDER MATTERS
AND ISSUER PURCHASES OF EQUITY SECURITIES
Due to the restatement of our September 30, 2012 and prior financial statements, and the delay in filing our periodic reports with
the SEC, we were unable to comply with the listing standards of NASDAQ and our common stock was suspended from trading
effective February 25, 2014 and formally de-listed effective May 2, 2014. Following the suspension of trading, our common
stock traded on the OTC Pink Tier under the symbol AVID. After we completed the restatement and became current in our SEC
reporting obligations, our common stock resumed trading on the NASDAQ Global Select Market under the symbol AVID,
effective December 8, 2014. The table below shows the high and low sales prices of our common stock for each calendar quarter
of the fiscal years ended December 31, 2014 and 2013.
2014 2013
High Low High Low
First Quarter $8.29 $4.93 $7.99 $6.27
Second Quarter $7.64 $6.10 $7.01 $5.88
Third Quarter $10.55 $7.45 $6.30 $5.22
Fourth Quarter $14.48 $9.25 $8.89 $6.16
On March 13, 2015, the last reported sale price of our common stock on the NASDAQ Global Select Market was $14.63 per
share. The approximate number of holders of record of our common stock at March 13, 2015 was 325. This number does not
include stockholders for whom shares were held in a “nominee” or “street” name.
We have never declared or paid cash dividends on our capital stock, and we do not anticipate paying any cash dividends in the
foreseeable future. Our credit agreement with Wells Fargo prohibits us from declaring or paying any dividends in cash on our
capital stock.
Stock Performance Graph
The following graph compares the cumulative stockholder return on our common stock during the period from December 31,
2009 through December 31, 2014 with the cumulative return during the period for:
• the NASDAQ Composite Index (all companies traded on NASDAQ Capital, Global or Global Select Markets),
• the Avid Peer Group Index (see details following the graph).
This comparison assumes the investment of $100 on December 31, 2009 in our common stock, the NASDAQ Market Index and
the Avid Peer Group Index, and assumes that dividends, if any, were reinvested.