Overstock.com 2010 Annual Report Download - page 43

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Table of Contents
STOCK PERFORMANCE GRAPH
The following graph shows a comparison of cumulative total stockholder return, calculated on a dividend reinvested basis, from the market closing price
on December 31, 2005 through December 31, 2010 for Overstock.com, Inc., NASDAQ Market Index—U.S. ("NASDAQ Market Index"), the Hemscott
Internet Software and Services Index ("Hemscott Group Index") and the Morningstar Online Retail Industry Group Index ("Morningstar Group Index"). We
have been informed that the Hemscott Group Index is being phased out, and we will replace it with the Morningstar Group Index because it is composed of
companies in businesses similar in many ways to our business. The graph assumes that $100 was invested in our common stock and the above indices at the
closing prices on December 31. Historic stock price performance is not necessarily indicative of future stock price performance.
COMPARISON OF CUMULATIVE TOTAL RETURN
Holders
As of February 11, 2011, there were 325 holders of record of our common stock. Because many of our shares of common stock are held by brokers and
other institutions on behalf of shareholders, we are unable to estimate the number of beneficial shareholders.
Dividends
We have never declared or paid any cash dividends on our common stock. We currently intend to retain any earnings for future growth and do not
anticipate paying any cash dividends in the foreseeable future. Any future determination to pay dividends will be at the discretion of our board of directors
and will depend on our results of operations, financial conditions, contractual and legal restrictions and other factors the board deems relevant. Our Financing
Agreement with U.S. Bank National Association prohibits dividend payments and other distributions following the occurrence of a "Triggering Event," as
defined in the Financing Agreement. A "Triggering Event" would include any
37