Item 2. Unregistered Sales of Equity Securities
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.
Recent Sales of Unregistered Equity Securities
There were no sales of unregistered equity securities during the six months ended June 30, 2026.
Use of Proceeds from Registered Equity Securities
We did not receive any proceeds from sales of registered equity securities during the six months ended June 30, 2026.
Issuer Purchases of Equity Securities
The following table presents repurchases of shares of the Company’s Common Stock completed during the three months ended June 30, 2026 (in thousands, except per share amounts):
Period
Total Number of Shares Purchased
Average Price Paid Per Share ( 1)
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (2)
Maximum Dollar Value of Shares that May Yet be Purchased Under the Plans or Programs
April 1, 2026 - April 30, 2026
16,536 $ 6.92 16,536 $ 1,269,975
May 1, 2026 - May 31, 2026 (3)
39,271 $ 7.16 39,271 $ 988,772
June 1, 2026 - June 30, 2026
12,301 $ 6.71 12,301 $ 906,347
Total
68,108 $ 7.02 68,108 $ 906,347
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(1) The average price paid per share is calculated by dividing the total cash paid for the shares (including commissions) by the total number of shares repurchased.
(2) In February 2026, the Company's Board of Directors approved the 2026 Share Repurchase Plan, pursuant to which the Company is authorized to repurchase, through April 30, 2029, up to a maximum aggregate amount of $1.5 billion of shares of the Company's Common Stock. The 2026 Share Repurchase Plan allows the Company to purchase Common Stock, from time to time, in one or more open market or privately negotiated transactions, including pursuant to Rule 10b5-1 or Rule 10b-18 of the Exchange Act, or pursuant to one or more accelerated share repurchase agreements, subject to certain requirements and other factors.
(3) The Company repurchased, and subsequently retired, 29 million shares of its Common Stock under the 2026 Share Repurchase Plan for an aggregate purchase price of $211 million (or approximately $7.25 per share) in connection with a secondary offering of the Company’s Common Stock by Apollo. Refer to Note 14 Related Party Transactions for further information. The Company also repurchased, and subsequently retired, an additional 10 million shares of its Common Stock under the 2026 Share Repurchase Plan in the open market, including pursuant to Rule 10b5-1 and/or Rule 10b-18 of the Exchange Act, in multiple transactions at an average price of $6.91 per share.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES.
None.
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ITEM 4. MINE SAFETY DISCLOSURES.
None.
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