Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Unrestricted Common Stock

The Company's unrestricted common stock is listed on the NASDAQ Global Select Market under the trading symbol CBOE. As of January 30, 2015, there were approximately 172 holders of record of our unrestricted common stock.

The following table sets forth the high and low sales prices by quarter for shares of our unrestricted common stock as reported on NASDAQ and cash dividends declared per quarter:

	Price Range				Cash Dividends Declared per Share
Calendar Period	High		Low
2013
First Quarter	$	36.99	$	29.74	$	0.15
Second Quarter	47.13		35.76		0.15
Third Quarter	51.12		44.44		0.18
Fourth Quarter (1)	54.79		44.86		0.68
2014
First Quarter	59.28		48.22		0.18
Second Quarter	56.98		46.84		0.18
Third Quarter	56.36		46.52		0.21
Fourth Quarter	65.39		52.90		0.21
2015
Through February 11, 2015 (2)	68.00		60.95		0.21

(1) On December 10, 2013, the Company's board of directors declared a special cash dividend of $0.50 per share. The dividend was paid on January 17, 2014 to stockholders of record at the close of business on January 3, 2014.

(2) On February 4, 2015, the Company's board of directors declared a quarterly cash dividend of $0.21 per share. The dividend is payable on March 20, 2015 to stockholders of record at the close of business on February 27, 2015.

Dividends

Each share of unrestricted common stock, including restricted stock awards, and restricted stock units is entitled to receive dividend and dividend equivalents, respectively, if, as and when declared by the board of directors of the Company.

The Company’s expectation is to continue to pay dividends. The decision to pay a dividend, however, remains within the discretion of our board of directors and may be affected by various factors, including our earnings, financial condition, capital requirements, level of indebtedness and other considerations our board of directors deems relevant. Future debt obligations and statutory provisions, among other things, may limit, or in some cases prohibit, our ability to pay dividends.

As a holding company, the Company's ability to declare and continue to pay dividends in the future with respect to its common stock will also be dependent upon the ability of its subsidiaries to pay dividends to it under applicable corporate law.

Recent Sales of Unregistered Securities

Not applicable.

Use of Proceeds

Not applicable.

Purchases of Equity Securities by the Issuer and Affiliated Purchasers

The table below shows the purchases of equity securities by the Company in the three months ended December 31, 2014, reflecting the purchase of unrestricted common stock under the Company's share repurchase program:

Period	Total Number of Shares Purchased	Average Price Paid per Share		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs (1)
October 1, 2014 – October 31, 2014	248,300	$	55.74	248,300	$	104,535,512
November 1, 2014 – November 30, 2014	111,500	60.52		111,500	97,787,576
December 1, 2014 – December 31, 2014	129,700	62.76		129,700	89,647,758
Totals	489,500	$	58.69	489,500

(1)In 2011, the board of directors approved an initial authorization for the Company to repurchase shares of its outstanding unrestricted common stock of $100 million and approved additional authorizations of $100 million in each of 2012, 2013 and 2014 for a total authorization of $400 million. The program permits the Company to purchase shares through a variety of methods, including in the open market or through privately negotiated transactions, in accordance with applicable securities laws. It does not obligate the Company to make any repurchases at any specific time or situation.

The Company purchased 248 shares of unrestricted common stock at an average price of $54.42 in the three months ended December 31, 2014 to satisfy employees' tax obligations upon the vesting of restricted stock. These purchases were not part of the publicly announced repurchase program.

Stockholder Return Performance Graph

The following graph compares the cumulative total return provided to stockholders on our unrestricted common stock since our initial public offering against the return of the S&P Midcap 400 Index and a customized peer group that includes CME Group Inc., Intercontinental Exchange Inc., The NASDAQ OMX Group Inc. and CBOE Holdings.

An investment of $100, with reinvestment of all dividends, is assumed to have been made in our unrestricted common stock, the index and the peer groups on June 15, 2010, and its performance is tracked on a annual basis through December 31, 2014.

Comparison of Cumulative Total Return of the

Company, Peer Groups, Industry Indexes and/or Broad Markets

COMPARISON OF 54 MONTH CUMULATIVE TOTAL RETURN*

Among CBOE Holdings, Inc., the S&P Midcap 400 Index

and a Peer Group

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* $100 invested on 6/15/10 in stock or 5/31/10 in index, including reinvestment of dividends.

Fiscal year ending December 31.

Copyright© 2014 S&P, a division of The McGraw-Hill Companies Inc. All rights reserved.

	6/15/2010 (1)	12/2010	12/2011	12/2012	12/2013	12/2014
CBOE Holdings, Inc.	100	70.98	81.65	97.25	175.80	217.69
S&P Midcap 400	100	119.98	117.9	138.97	185.53	203.65
Peer Group	100	101.42	89.76	96.83	164.29	182.18

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(1)Reflects the date of the Company's initial public offering.

CBOE - Cboe Global Markets, Inc.