{"url_path":"/sec/amsf/10-k/2026/item-5","section_key":"item-5","section_title":"Item 5 Market for Registrant’s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities.","topic":"sec","document":{"doc_type":"10-K","doc_date":"2026-02-27","source_url":"https://www.sec.gov/Archives/edgar/data/1018979/0001193125-26-082513-index.html","accession_number":"0001193125-26-082513","cik":"0001018979","ticker":"AMSF","issuer_name":"AMERISAFE INC","edgar_url":"https://www.sec.gov/Archives/edgar/data/1018979/0001193125-26-082513-index.html","primary_entity_key":"0001018979","primary_entity_name":"AMERISAFE INC"},"word_count":622,"has_tables":true,"body_markdown":"Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities.\n\nMarket Information and Holders\n\n \n\nOur common stock is traded on the NASDAQ Global Select Market under the symbol “AMSF.” As of February 13, 2026, there were 19 holders of record of our common stock which does not include beneficial holders whose shares are held by banks, brokers, and other financial institutions.\n\nDividend Policy\n\nIn 2025, 2024 and 2023, the Company paid regular quarterly cash dividends of $0.39, $0.37, and $0.34 per share, respectively. In addition, the Company paid special cash dividends of $1.00, $3.00, and $3.50 per share in 2025, 2024 and 2023, respectively.\n\nOn February 24, 2026 the Company declared a regular quarterly cash dividend of $0.41 per share payable on March 20, 2026 to shareholders of record as of March 13, 2026.\n\nThe Company's board of directors intends to continue to consider the payment of a regular cash dividend each calendar quarter. The declaration and payment of dividends is at the discretion of our board of directors.\n\nWe are a holding company and have no direct operations. Our ability to pay dividends in the future depends on, among other things, the ability of our operating subsidiaries to pay dividends to us. Our insurance company subsidiaries are regulated insurance companies and therefore are subject to significant regulatory restrictions limiting their ability to declare and pay dividends. See “Business—Regulation—Dividend Limitations” in Item 1 and Item 1A. \"Risk Factors\" of this report.\n\nOur existing revolving credit agreement contains covenants that limit our ability to pay dividends on our common stock. For more information on our credit agreement, see “Liquidity and Capital Resources” in Item 7 of this report.\n\nDescription of Capital Stock\n\nAMERISAFE is authorized to issue 60,000,000 shares of capital stock, consisting of:\n\n•\n10,000,000 shares of preferred stock, par value $0.01 per share; and\n\n•\n50,000,000 shares of common stock, par value $0.01 per share.\n\n \n\nAs of February 13, 2026, 18,794,881 shares of common stock were outstanding. As of that date, there were no shares of preferred stock outstanding. See Exhibit 4.1 to this report for a more detailed description of our capital stock.\n\nShare Repurchases\n\nAs of December 31, 2025, we had repurchased a total of 1,974,140 shares for $54.2 million since the inception of our share repurchase program in 2010. The repurchases may be effected from time to time pursuant to trading plans meeting the requirements of Rule 10b5-1 under the Exchange Act. The share repurchase program does not obligate the Company to repurchase any shares of the Company’s common stock and may be modified, increased, suspended or terminated at the discretion of our board of directors. The board of directors’ determination will depend on a variety of factors, including, but not limited to, market conditions and applicable regulatory considerations.\n\n \n\n34\n\n \n\nThe following table summarizes the Company’s purchases of its common stock, par value $0.01 per share, during the three months ended December 31, 2025:\n\n \n\nPeriod\n\n \n\nTotal Number of\nShares Purchased\n\n \n\n \n\nAverage Price Paid\nper Share (1)\n\n \n\n \n\nTotal Number of\nShares Purchased as\nPart of Publicly\nAnnounced Program\n\n \n\n \n\nApproximate Dollar\nValue of Shares that\nMay Yet Be Purchased\nUnder the Program (2)\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n(in thousands)\n\n \n\nOctober 1, 2025 to October 31, 2025\n\n \n\n \n\n94,274\n\n \n\n \n\n$\n\n41.58\n\n \n\n \n\n \n\n94,274\n\n \n\n \n\n$\n\n20,960\n\n \n\nNovember 1, 2025 to November 30, 2025\n\n \n\n \n\n24,745\n\n \n\n \n\n \n\n40.81\n\n \n\n \n\n \n\n24,745\n\n \n\n \n\n \n\n19,950\n\n \n\nDecember 1, 2025 to December 31, 2025\n\n \n\n \n\n78,653\n\n \n\n \n\n \n\n38.52\n\n \n\n \n\n \n\n78,653\n\n \n\n \n\n \n\n16,920\n\n \n\nTotal\n\n \n\n \n\n197,672\n\n \n\n \n\n \n\n \n\n \n\n \n\n197,672\n\n \n\n \n\n \n\n \n\n \n\n(1) Average price paid per share includes commissions and excise tax.\n\n(2) In July 2025, the Company announced a share repurchase program that replaced the Company’s prior program, authorizing\n\nthe repurchase of shares of the Company’s common stock in an aggregate amount of up to $25.0 million with no expiration\n\ndate."}