Go Daddy 2015 Annual Report Download - page 57
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Table of Contents
Part II.
Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Our Class A common stock has traded on the NYSE under the symbol "GDDY" since April 1, 2015 , the date of our IPO. Prior to our IPO, there was no
public market for our Class A common stock. The following table sets forth, for the period indicated, the range of high and low closing sales prices per share of our
Class A common stock, as reported by the NYSE, since April 1, 2015 .
Fiscal Year Ended December 31, 2015
High
Low
Second Quarter ended June 30, 2015
$31.82
$24.54
Third Quarter ended September 30, 2015
29.47
23.59
Fourth Quarter ended December 31, 2015
34.24
25.29
The closing sales price of our Class A common stock, as reported by the NYSE, on February 26, 2016 was $31.18 per share.
Holders of Record
As of December 31, 2015 , there were 17 holders of record of our Class A common stock, although we believe there are a significantly larger number of
beneficial owners of our Class A common stock because many shares are held by brokers and other institutions on behalf of stockholders.
Dividend Policy
We did not pay any dividends on our Class A common stock in 2015 and do not intend to pay dividends on our Class A common stock in the foreseeable
future. If, however, we decide to pay a dividend in the future, we would need to cause Desert Newco to make distributions to us in an amount sufficient to cover
such dividend. If Desert Newco makes such distributions to us, the other holders of LLC Units will be entitled to receive pro rata distributions.
Our ability to pay dividends on our Class A common stock is limited by the covenants of our indebtedness and may be further restricted by the terms of any
future debt or preferred securities incurred or issued by us or our subsidiaries. See "Management’s Discussion and Analysis of Financial Condition and Results of
Operations—Liquidity and Capital Resources." In addition, Desert Newco is generally prohibited under Delaware law from making a distribution to unit holders
(including us) to the extent that, at the time of the distribution, after giving effect to the distribution, liabilities of Desert Newco (with certain exceptions) exceed
the fair value of its assets. Subsidiaries of Desert Newco are generally subject to similar legal limitations on their ability to make distributions to Desert Newco.
Unregistered Sales of Equity Securities
In October 2015 , we issued 30,877 shares of Class A common stock pursuant to net exercises of outstanding warrants at per share exercise prices of $7.44 .
The shares were issued in reliance on an exemption from registration under Section 4(a)(2) under the Securities Act.
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